25 Most Powerful Women in Banking

by Erin McCune on September 28, 2007

in Banking

U.S. Banker released its fifth annual “The 25 Most Powerful Women in Banking” ranking, which honors the banking industry’s most influential executives based on their financial performance, professional achievements, and use of influence within their organizations and across the industry.

“This year’s 25 MPWIB honorees represent a remarkable group of leaders—each distinct in her progressive management style,” said U.S. Banker’s editor-in-chief Holly Sraeel. “These women measure their performance holistically. ‘The 25 Most Powerful Women in Banking’ honors outstanding performers who use their influence not only to advance their institutions’ financial performance, but also to strengthen their organizations and the communities they serve.”

2007 Honorees

[1] Topping this year’s exclusive list, published in the October issue, is Heidi Miller, JPMorgan Chase’s treasury and security services CEO, who flawlessly managed JPMorgan’s merger with Bank One, and whose division on a pro forma stand-alone basis would have been last year’s most profitable U.S. bank.

[2] Wells Fargo’s Carrie Tolstedt ranks second for her performance as senior EVP of community banking, where she has delivered earnings growth of more than 25 percent over the past three years and effectively turned around Wells Fargo’s consumer satisfaction ratings.

[3] Coming in at number three is Barbara Desoer, chief technology and operations officer at Bank of America, who spearheaded a major technology overhaul that contributed greatly to Bank of America’s dominance in the industry.

[4] & [5] The rankings’ fourth and fifth positions are held by Cece Sutton, Wachovia’s EVP and head of retail and small business banking, and Doreen Woo Ho, Wells Fargo Bank’s president of its consumer credit group and corporate trust services.

… read bios on the top 25 here.

The New Establishment

The October issue of U.S. Banker also pays tribute to “The 25 Women to Watch,” individuals whose performance continues to redefine leadership in banking and financial services. Leading the ranking this year is Sallie Krawcheck, chairman and CEO of Citi Global Wealth Management, followed by Karen Peetz, CEO of The Bank of New York Mellon Corporate Trust, Colleen Johnston, TD Bank Financial Group’s CFO and group head, Avid Modjtabai, Wells Fargo’s EVP and CIO, and Ranjana Clark, Wachovia’s senior EVP and CMO.

Read bios here.

The Top 20 Nonbank Women in Finance

This year U.S Banker unveiled a new ranking of the “The Top 20 Nonbank Women in Finance,” (insurance, investment management, investment banking, etc.). They're not bankers, but their prowess in the financial-services field is legendary. Topped by Zoe Cruz, co-president of Morgan Stanley, Paula Rosput Reynolds, Safeco’s CEO, Susan Ulick, TIAA CREF’s senior managing director, head of equity investments, Anne Stausboll, Chief Operating Investment Officer of CalPERS, and Clara Furse, CEO of the London Stock Exchange.

Read bios here.

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