The Most Powerful Women in Banking

Hung joined State Street Global Advisors in December 2022, following a 12 year stint at New York Life Investments, including 7 1/2 years as its CEO.

Merrill Wealth Management added a record 37,500 net new clients in 2023, up nearly 50% from 2022, and added $38 billion AUM from clients in 2023, nearly five times its AUM increase in 2022.

In her daily duties at BNY, Smits, who is originally from the Netherlands and now based in Britain, leads the bank's seven investment firms which have a combined $2 trillion in assets.

Milrod has led the bank's foray into digital finance and its efforts to become more product-driven.

Knox leads more than 4,500 professionals at Bank of America Private Bank, which generates $3.6 billion in annual revenue and has $640 billion in client balances from high-net-worth individuals, families and institutions.