President, BNY Mellon
Last year's No. 1 Woman to Watch, Karen Peetz is this year's No. 2 Most Powerful Woman in Banking. It's a customary for spot for Peetz, who had been a fixture among the top five for years and was ranked No. 1 in 2011.
As president of the world's largest custody bank, a role she assumed in early 2013, Peetz oversees global and regional client management, treasury services, growth initiatives and innovation, as well as the most complex regulatory issues. She reports directly to Chairman and CEO Gerald Hassell and is a member of the company's executive committee.
Peetz is responsible for spearheading several new initiatives, including the creation of BNY Mellon University and the establishment of a formal innovation program that encourages employees worldwide to submit their best ideas for potential implementation. The university has helped to eliminate redundancies in training, reducing overall training costs, and ideas generated through the innovation initiative contributed $180 million to pretax revenue last year.
Peetz no longer chairs the Women's Initiative Network she founded in 2004, but she continues to actively mentor women throughout the firm. She is currently the executive sponsor of Impact, BNY Mellon's employee resource group that is focused on the recruitment, development and retention of multi-cultural talent.