The Most Powerful Women in Banking

Take away everything Carla Harris has accomplished in her career at Morgan Stanley and you would still have an extraordinary resume: gospel singer, much sought-after lecturer, newly-minted author, and director on the boards of eight non-profit organizations.

As the head of the largest woman-run hedge fund in the United States, it's easy to understand why Anne Dias Griffin has made this list for a third consecutive year.

In a year of upheaval, these women stood out for their leadership, their coolness under pressure, and their continued drive to innovate.

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."

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.