Most Powerful Women in Finance: No. 18, Citi's Elinor Hoover
Global Co-Head Consumer Products, Corporate and Investment Banking , Citigroup
Since taking the position of global co-head of consumer products in Citigroup’s corporate and investment banking division, Elinor Hoover has seen a lot of disruption. New entrants in the consumer products space are challenging established businesses, and consumers themselves are changing their behavior and expectations.
But some things resist disruption — like the tendency of the capital markets to shower funding on men launching young companies while starving firms founded by women. It’s something that Hoover has seen repeatedly in the past few years, and she’s frustrated by it.
“I have developed a newfound passion to help support female founders of disruptive companies in raising capital and in maximizing their enterprises’ value in an attempt to close the staggering gap that exists in the funding dollars directed towards females versus males,” she said.
That goes hand in hand with her mission to increase women’s visibility within the ranks of Citigroup’s upper management, which she pursues by identifying promising young managers and actively mentoring them.
None of this takes away from Hoover’s determination to grow the business she runs.
The unit advises corporations in the food and beverage and household and personal care industries, and her goal is to build it into a top three strategic advisory firm. She is actively building the team that she needs to reach that goal, more than doubling the number of managing directors and mid-level vice presidents in her group over the past year.