The Most Powerful Women in Banking

Dmuchowski worked three jobs to pay for her college education. She tells young colleagues that regardless of their backgrounds, if they work hard, they will succeed.

The megabank, which is eliminating about 5,000 jobs in a first round of restructuring, said that it's paused its annual review of racial and gender pay gaps. Citi will conduct a 2023 review sometime later this year, a source said.

For the second straight year, Goldman Sachs shareholders have filed a proposal calling for more details on racial and gender pay gaps. The request comes as the investment banking giant faces scrutiny over its lack of high-ranking women leaders.

Stephanie Cohen's exit adds to the dwindling ranks of senior women at the firm as Chief Executive Officer David Solomon has failed to make good on his pledge of correcting the lack of women in the firm's top ranks.

The chair and CEO of the M&T division considers herself a "builder-fixer" and has sought out new challenges and opportunities throughout her more than 30-year career.