Most Powerful Women in Finance 2023

At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.

Mary Callahan Erdoes, CEO of asset and wealth management at the megabank, says recent advancements in remote connectivity will lead to a "much better Wall Street than many of us grew up in." She urges women not to let newfound flexibility go away.

Our annual list of The Most Powerful Women in Finance.

Erdoes' team finished the second quarter with $4.6 trillion in total client assets and $3.2 trillion in assets under management. Year-on-year, those figures were up 20% and 16%, respectively.

Johnson joined the family business in 1988, becoming its CEO in 2014 and chair two years later. Since then, she has continued to push Fidelity to expand.

As part of TIAA's mission, Duckett is doubling down on her efforts to ensure that Americans save enough for retirement.

As president and CEO, Johnson is responsible for developing Franklin Templeton's overall strategic direction, executing on that strategy and advancing the firm's client-centric culture.

A native of Baltimore, Friedman grew up with finance: Her father, David Testa, was chief investment officer at financial advisory firm T. Rowe Price.

In early 2023, UBS took over the ailing Credit Suisse, and Harford has been hard at work integrating Credit Suisse's asset management business.

As chief product officer, Milrod now oversees a team of more than 500 professionals who provide a diverse range of services and products to institutional investors around the globe.

As CEO, she leads the efforts of seven specialist investment firms. Together, these companies offer investment solutions across every major asset class. 

Martin heads the NYSE Group division of Intercontinental Exchange, having worked for the company and its predecessors for more than two decades.

Yeshaya joined Morgan Stanley as a college intern and returned after graduation as an investment banking analyst. She rose up in the fixed income division before being chosen by CEO James Gorman to be his chief of staff in 2015.

Knox has run the private bank since 2018. It is one of two units in Bank of America's private wealth and investment management division, along with Merrill Wealth Management.

 In perhaps the most high-profile deal Zapparoli advised upon, BofA Securities was joint bookrunner and global coordinator of Porsche's initial public offering last October.

JPMorgan appointed Heitsenrether as its first chief data and analytics officer in June, leading the adoption of artificial intelligence technologies across the bank's operations.

Pennington has been with Edward Jones since 2000. She has held such positions as financial advisor; principal, branch and region development and principal, client strategies group before being named managing partner.

McShane has successfully navigated record-high inflation and the threat of a recession to seamlessly integrate Wells Fargo's CRE platform across all lending and capital markets products and services. 

Aiyengar manages a team of over 250 M&A bankers in 17 countries across the globe. She has been with JPMorgan since 1999.

In addition to her work as global head of Citigroup's Citi Private Bank, Liu also co-leads the bank's Asian affinity network.