The Latest from Women in Banking

Banks need to be inclusive at the highest levels, and men in the C-suite need to play an active role in that transformation, says Operation HOPE’s John Hope Bryant.

Jane Fraser, who in February will become the first female CEO of a Wall Street bank, said during a Women in Banking event hosted by American Banker that she will be “the first of many, many more” to come.

Longtime finance entrepreneur Jackie Reses, who led Square Capital for the last five years, is leaving the company at the end of the month. Square has not yet named a successor.

Twenty of this year’s honorees were among our 25 Most Powerful Women in Banking in 2019, while four — Citizens Bank of Edmond’s Jill Castilla, City National Bank’s Kelly Coffey and JPMorgan Chase’s Lori Beer and Jennifer Piepszak — are former Most Powerful Women to Watch making their debuts here.

The biggest name, of course, is Jane Fraser, the president of Citigroup who in February will replace Michael Corbat as CEO. Fraser, who has been a mainstay on our Most Powerful Women in Banking list for years, will be the first woman in U.S. history to lead a large, global bank.

Promoted to executive director of the retail bank in April, McKinney oversees an operation that accounts for roughly 40% of Comerica’s workforce and 435 branches in five states.

Smith, BofA's chief administrative officer, is leading the bank's push to tackle economic mobility challenges in its 91 markets.

Goldman Sachs Group shuffled its business lines and announced a raft of management changes, carving out new divisions aligned with a strategy pivot unveiled earlier this year.

Many of the women in this year's list are familiar to American Banker readers, including J.P. Morgan's Mary Callahan Erdoes, Fidelity Investmemts' Abigail Johnson and Synchrony Financial's Margaret Keane. Seven honorees are newcomers, including two, Maria Hackley and Ida Liu, from Citigroup.

As part of American Banker’s Most Powerful Women in Banking and Finance program, we have selected five “Top Teams” for 2020.