The following chart shows consolidation of the U.S. banking sector roughly from the early 1990s to 2010 which led to four major banks. There are other similar stories in banking and particularly colorful stories in investment banking. Also, there already was significant consolidation before the early 1990s. Still the chart is impressive in the story it tells through a single picture. Interestingly there are other details that would be difficult for the chart to show. For example, while Wells Fargo is one of the four remaining banks, it was actually acquired by Norwest (from Minneapolis) which after the acquisition took the Wells Fargo name. A similar story with Bank of America. It was acquired ultimately by NationsBank (Charlotte) which took the Bank of America name. This is definitely also a regional bank story. In fact the only original purely money center bank that survived under its own name of the four is Citibank.
This chart was originally posted to LinkedIn by Marina Kaplinsky of JPMorgan Chase. Many thanks to her for posting it.