The Most Powerful Women in Banking

Confidence, accountability and a willingness to take risks are common traits among highly motivated executives. But true power comes from execution, says HSBC's North American CEO, who advises women to "be in it to win it."

Studies are showing that companies predominantly led by women perform better than those led by men; worldwide trends are showing a continuing uptick in the number of women on boards, but they still account for less than 20% of directors.

Merchants Bank of Bangor in Pennsylvania has tapped its chief operating officer, Tracey Smith, to become chief executive next year.

Prudential Bancorp in Philadelphia has named Anthony Migliorino to the newly created job of chief operating officer.

Among other reasons for seeking their own charters, the U.K.'s so-called challenger banks say they need to avoid being beholden to older institutions that can slow down the creative process.