CEO, JPMorgan Asset Management
Sometimes being the most powerful person in an industry means facing the greatest scrutiny. For Mary Callahan Erdoes, running one of the most reliably profitable businesses at the country's largest banking company now means weathering part of the regulatory storm sweeping over JPMorgan Chase.
Erdoes has spent the past four years as head of the company's asset-management division, which handles more than $2 trillion in assets. Her group frequently appears on lists of top money managers, and has been a steady source of profit for its parent company at a time when most in the banking industry are struggling for reliable returns. Erdoes, age 46, is part of Chairman and CEO Jamie Dimon's 12-member operating committee, and a pillar of stability at a company that traditionally has rotated senior executives through various lines of business. She has spent 17 of her 24 years in the industry at JPMorgan, all of them in asset management or private banking, and has earned widespread respect for her ability to handle the money of pension funds, central banks, foundations and wealthy clientele.
"Our asset management business delivers consistently strong results, and Mary's leadership is the driving force behind that performance," says Dimon. "She has an incredibly deep understanding of our clients' needs and the strategic vision to deliver solutions for them. She's an extremely talented leader."