Anne Clarke Wolff
Head of Global Corporate Banking, Bank of America Merrill Lynch
The focus in corporate banking is more emphatically on the word "global" since Anne Clarke Wolff became head of the unit in 2011. She has transformed the senior leadership team by recruiting seasoned veterans into key positions and refocused the group on the company's broad capabilities worldwide. The result is a business that has grown from being a dominant U.S. lender and underwriter into much more of a leading global player in areas like capital-raising and risk management.
An initiative she introduced in early 2013 called "Plus One" is helping fuel growth too. It encourages corporate bankers to expand existing relationships by adding new products. The idea is that revenue grows exponentially once a client exceeds a particular number of products. The corporate banking team in Europe and Emerging Markets has rolled out Plus One and already calls attention to every instance in which incremental business is added to an existing account. Now the U.S. global commercial banking team has picked up the program as well.