The Most Powerful Women in Banking
Honorees gathered at Tiffany's Landmark building in New York City, where American Banker interviewed them about the industry's trajectory and leadership lessons they've learned in their careers.
Women have gained ground in executive management ranks, but not much. They held 17.9 percent of executive positions at the 100 largest nationally charted banks last year, an increase of only 1.9 percentage points since 2003. The women who have reached that level in their institutions have the influence to change this, both in their banks and the financial industry. Inside, U.S. Banker presents its fifth anniversary of The 25 Most Powerful Women in Banking.
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Liz Ann Sonders says her job is to educate, rather than make predictions. "I differ from my CIO brethren in that I'm not asked to make bombastic forecasts about where the S&P will close at year end," she says. "I'm really just supposed to interpret what's going on."
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Kathy Elsesser, a Goldman managing director since 2002 and partner since 2004, and head of its consumer retail group in investment banking, has used every ounce of her energy to keep her team on track.
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Many executives take pride in quickly making judgment calls. But what Paula Rosput Reynolds learned in an arduous year as vice chairman and chief restructuring officer at the embattled AIG was the value of a carefully formed opinion.
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Suzanne Shank can make competing with the big guys on Wall Street sound ho-hum. "You can have a lot of bodies, but if you have a good group of people with good connections you can do a pretty good job."
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Mellody Hobson, the president of Ariel Investments in Chicago, is a ubiquitous presence in the media, educating the public about the importance of responsible investing.
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The latest news and perspective on women in the industry | The Most Powerful Women in Banking program convenes and empowers the community of female executives in financial services.