The financial crisis hurt a lot of people’s good reputations. Not Heidi Miller's.
The 57-year-old JPMorgan Chase veteran has been on this magazine's list of most powerful women for seven straight years thanks to her deft management of the New York giant's treasury and securities services division.
A job change this summer put Miller in charge of the company's expansion abroad. She'll be going up against global players like Citigroup and HSBC Holdings that have a head start in emerging markets like Brazil, China and India. "I'll be on a plane a lot more," Miller says.
This new job is a big one. As president of international, she must coordinate the efforts of the three JPMorgan Chase units that operate overseas: investment banking, asset management and treasury services. That involves everything from deciding where to invest in new offices and people to untangling bureaucratic channels to ensuring divisions are sharing clients and services.
"We clearly want to increase our percentage of revenues that come from non-U.S. sources," Miller says. "Our customers want us to do more of this. They see us as one of the few global banks that can help them around the world."
JPMorgan Chase CEO Jamie Dimon had been setting his sights abroad since before the downturn. He's long felt the company was falling short of its potential in helping global corporations with tasks like raising capital and managing cash, but his expansion plans were interrupted by the financial crisis.
The six years Miller spent running treasury and securities services is a key reason he turned to her now that the effort is resuming. Her unit doubled its contribution to the company's bottom line in her first four years as its leader.