NEW YORK, NY -- 09/26/08 --
In a year when writedowns, bankruptcies and
uncertainties have plagued financial markets, U.S. Banker, published by
SourceMedia, has showcased a collection of underreported success stories in
its sixth annual ranking of The 25 Most Powerful Women in Banking (The 25
MPWIB). This year's ranking details how the most influential female
executives in the financial services industry have kept their business
units' revenue increasing and their profit goals on course in the face of
significant financial and economic headwinds.
The ranking, featured in U.S. Banker's October issue and online at
www.US-Banker.com, recognizes the professional achievements, personal
tenacity and influence of top-performing financial services executives.
"With the pillars of Wall Street crumbling around them, these remarkable
women steadily delivered outstanding results for their institutions while
making meaningful contributions to their communities," said Holly Sraeel,
editorial director of U.S. Banker at SourceMedia and president of The 25
MPWIB. "They navigated a complex economic environment and took on
increasing responsibilities to drive results and implement best practices
within their respective organizations."
Heidi Miller, JPMorgan Chase's CEO of Treasury and Securities Services,
again topped The 25 MPWIB ranking for posting extraordinary financial
results in 2008.
Barbara Desoer, Bank of America's president of Mortgage, Home Equity and
Insurance Services, ranks second in this year's list. She is followed by
Wells Fargo's Carrie Tolstedt, senior EVP of Community Banking; U.S.
Bancorp's Pamela Joseph, vice chair of Payment Services; and Citigroup's
Sallie Krawcheck, CEO, Citi Global Wealth Management, respectively.
U.S. Banker's October issue also profiles The 25 Women to Watch, a ranking
that honors women whose leadership continues to shape the financial
services industry. This year's top five, in order, include TD Bank
Financial Group's Colleen Johnston, group head of Finance and CFO; Cascade
Financial's Carol Nelson, president and CEO; Wells Fargo's Avid Modjtabai,
EVP and CIO; Citigroup's Elyse Weiner, managing director, global head of
Liquidity and Investments, GTS; and Citigroup's Maura Markus, EVP and head
of International Consumer Banking.
For the second year, U.S. Banker ranked The Top 25 Nonbank Women in
Finance, recognizing the top performers in the securities, asset
management, insurance, private equity and exchange businesses. Topping this
year's ranking is Nicole S. Arnaboldi, vice chairman of Alternative
Investments, Credit Suisse; Clara Furse, CEO, London Stock Exchange; Stacy
Bash-Polley, partner and managing director and co-head of Fixed Income
Sales in the Americas, Goldman Sachs; Abigail Johnson, president of
Personal and Workplace Investing, Fidelity; and Clare R. Scherrer, partner
and managing director, Goldman Sachs.
Finally, the magazine also recognized the "Top 3 Banking Teams," naming
U.S. Bancorp, Zions National Bank and Citigroup as the top three,
respectively. U.S. Bancorp, headquartered in Minneapolis, has landed the
top spot for three years since the designation debuted in 2005.
In addition to recognizing the accomplishments of these distinguished
women, it also is important to note that this has been a year of firsts for
The 25 MPWIB. This is the first time an honoree, Heidi Miller, has topped
the list twice, and in consecutive years. This year is the first time a
sibling of a former honoree has made the ranking, as this year's number
eight on The 25 MPWIB, Diane D'Erasmo, is the sister of 2005 honoree
Maryann Bruce, a Wachovia alumnus. Finally, this year's list features an
unprecedented number of foreign honorees and new faces. Nine out of the 25
honorees on The 25 MPWIB rankings are new to the list, as are 10 honorees
on The 25 Women to Watch and 11 honorees on The Top 25 Nonbank Women in
Finance.
Ranking Methodology
To be eligible for The 25 MPWIB rankings, an executive must be in her
position for at least 12 months and hold a title of senior vice president
or higher within a bank, division, group or subsidiary owned by a bank
holding company. The same rules apply to those ranked in the Top 25 Nonbank
Women in Finance.
U.S. Banker evaluated each of the 4,700 nominees using quantitative and
qualitative measures. Quantitative performance measures, such as one-year
and three-year performance, business initiatives and results and length of
tenure in the business, counted for two-thirds of the honorees' evaluation.
Qualitative measures, including job complexity and responsibility,
management style, best practices and innovations implemented, charitable
work and overall influence within her environment account for the balance.
U.S. Banker also considers performance in light of a business's size and
development; however, no market-condition weighting was applied as all
players faced the same circumstances.
To determine rankings for the top banking teams, the magazine considered
overall year-to-date financial performance of the company, the percentage
of women corporate officers, the total percentage of senior women
executives firm-wide, the overall financial performance of women-led
business units and functional areas, and, most importantly, growth-engine
businesses led by women.
Gala in New York City, October 20
In conjunction with its published rankings, U.S. Banker and SourceMedia
will host a Black Tie Gala celebrating honorees on October 20, 2008, at The
Plaza in New York City. The Gala will feature keynote addresses by Barbara
Desoer, Bank of America's president of Mortgage, Home Equity and Insurance
Services, and Heidi Miller, JPMorgan Chase's CEO of Treasury and Securities
Services.
Rita Turner, EVP, Wilmington Trust Company, will be honored with the
Marjorie Magner Lifetime Achievement Award. The award recognizes an
individual whose outstanding personal and professional achievements are
marked by a demonstrated ability to inspire excellence in others and an
unrelenting commitment to use personal influence to support education,
equal opportunity and diversity within corporate America and communities
locally, regionally or nationally over the course of her career.
About U.S. Banker and SourceMedia, Inc.
U.S. Banker (www.US-Banker.com), published for more than 117 years, is
written monthly for individuals charged with generating profits and
shareholder value for their financial institutions and covers market
trends, regulations, innovations and individuals that are reshaping the
financial services landscape.
SourceMedia, an Investcorp company, is the pre-eminent provider of timely
and essential news, analysis, research, and insights for members of the
financial services community, and the related fields of professional
services and technology. SourceMedia offers its clients and subscribers
professional publications, industry-standard data applications and in-depth
seminars and conferences.
APPENDIX A: The 25 Most Powerful Women in Banking
Heidi Miller
CEO, Treasury and Securities Services
JPMorgan Chase
Barbara Desoer
President, Mortgage, Home Equity and Insurance Services
(ranked based on prior role as Chief Technology and Operations Officer)
Bank of America
Carrie Tolstedt
Senior EVP, Community Banking
Wells Fargo
Pamela Joseph
Vice Chair, Payment Services, U.S. Bancorp
Chairman, Elavon
U.S. Bancorp
Sallie Krawcheck
Chairman and CEO
Citi Global Wealth Management
Citigroup
Karen Peetz
CEO of Issuer, Treasury, Broker-Dealer and Hedge Fund Services
(ranked based on prior role as CEO of Global Corporate Trust)
The Bank of New York Mellon
Mollie Hale Carter
President and CEO
Sunflower Bank
Diane D'Erasmo
EVP and Regional President, Commercial Banking
HSBC Bank USA
Sheila Schauer
President and CEO
Four Corners Community Bank
Charlotte McLaughlin
President and CEO, PNC Capital Markets
The PNC Financial Services Group
Catherine Keating
CEO, U.S. Private Bank
JPMorgan Chase
Diane Reyes
Global Treasury and Trade Sales Head
Global Transaction Services
Citi
Amy Woods Brinkley
Global Risk Executive
Bank of America
Diane Thormodsgard
Vice Chairman and Head of Wealth Management
and Securities Services
U.S. Bancorp
Kathleen Murphy
CEO, ING US Wealth Management
ING Group
Iris Chan
EVP, Head of Commercial Banking
Wells Fargo
Barbara Stymiest
COO
Royal Bank of Canada
Deanna Oppenheimer
CEO, UK Retail Banking
Barclays Bank PLC
Beth Mooney
Vice Chair, Community Banking
KeyCorp
Cynthia Smith
SVP and Director of BankCard Products and Services
Zions Bancorporation
Ellen Alemany
CEO
RBS Americas
Ranjana Clark
Senior EVP and CMO
Wachovia
Alberta Cefis
EVP and Group Head, Global Transaction Banking
Scotiabank
Jacque Fiegel
EVP and COO
Coppermark Bank
Lisa Binder
President and COO
Associated Banc-Corp
APPENDIX B: The 25 Women to Watch
Colleen Johnston
Group Head, Finance and CFO
TD Bank Financial Group
Carol Nelson
President and CEO
Cascade Financial Corp.
Avid Modjtabai
CIO
Wells Fargo
Elyse Weiner
Managing Director, Global Head of Liquidity and Investments
Global Transaction Services
Citi
Maura Markus
EVP, Head - International Consumer Banking
Citi
Lynn Pike
President
Capital One Bank
Mary McDowell
President and CEO
CitiFinancial North America
Leslie Godridge
EVP, Head of National Corporate and Institutional Banking
U.S. Bank
Lisa Banner
SVP, Executive Private Banking Manager
Zions First National Bank
Carmen Jordan
SVP, Corporate Energy Services Division Manager
Amegy Bank of Texas
Diana Starcher
Group EVP and Director, Customer Service, Sales and Operations
Wells Fargo
Ellen Costello
CEO
Harris Bankcorp
Catherine Smith
CEO, US Insurance
ING Group
Julie Monaco
Head of Global Transaction Services, North America
Citi
Katrina King
SVP, Treasury Management Sales Manager
Amegy Bank of Texas
Lisa Lane White
SVP and Senior Director of Innovative Solutions
Synovus
Anne Finucane
Chief Marketing Officer
Bank of America
Cece Sutton
EVP, Head of Retail and Small Business Banking
Wachovia
Karen Lee Hail
Senior EVP and COO
MidSouth Bancorp
Cara Heiden
Co-President, Wells Fargo Home Mortgage
Wells Fargo
Susan Horton
Chairman, CEO and president
Wheatland Bank
Donna DeMaio
President and CEO
MetLife Bank
Lori Chillingworth
SVP and Business Banking Director
Zions First National Bank
Mary Tuuk
EVP and Chief Risk Officer
Fifth Third Bancorp
Deloris Sims
President and CEO
Legacy Bank
APPENDIX C: The Top 3 Banking Teams
U.S. Bancorp
Zions National Bank
Citigroup
APPENDIX D: The Top 25 Nonbank Women in Finance
Nicole S. Arnaboldi
Vice Chairman, Alternative Investments
Credit Suisse
Clara Furse
CEO
London Stock Exchange
Stacy Bash-Polley
Partner and Managing Director
Co-Head of Fixed Income Sales in the Americas
Goldman Sachs
Abigail Johnson
President, Personal and Workplace Investing
Fidelity
Clare R. Scherrer
Partner and Managing Director
Goldman Sachs
Maliz Beams
President and CEO TIAA-CREF Individual and Institutional Services
EVP, Institutional and Individual Client Services
TIAA-Cref
Anne Stausboll
Interim Chief Investment Officer
CalPERS
Wei Christianson
Managing Director and China Chief Executive
Morgan Stanley
Joyce A. Phillips
President and Chief Operating Officer
American Life Insurance Company (ALICO)
Renu Sud Karnad
Joint Managing Director
Housing Development Finance Corporation Limited, India
Marjorie Magner
Managing Director
Brysam Global Partners
Candace Browning
President, Global Research
Merrill Lynch
Carla J. Brooks
Managing Director/Deputy Portfolio Manager
Commerce Street Capital LLC
Renuka Ramnath
Managing Director and CEO
ICICI Venture Funds Management Company Limited
Margaret Keane
President and CEO, Retail Consumer Finance Unit
GE Money-Americas
Barbara Goodstein
EVP Marketing, Chief Innovation Officer and CMO
AXA Equitable
M. Elaine Crocker
President
Moore Capital Management
Lisa M. Weber
President, Individual Business
MetLife, Inc.
Anne Dias Griffin
Founder and Managing Director
Aragon Global Management LLC
Karen Finerman
Founder
Metropolitan Capital
Christine L. Reilly
President
CIT Small Business Lending Corporation
Susan Shaffer Solovay
CEO
Pomegranate Capital
Eileen Murray
President
Duff Capital Advisors
Joan Kelly
Group Executive, Systems Delivery,
MasterCard Global Technology and Operations
MasterCard Worldwide
Diane Offereins
Executive Vice President and Chief Technology Officer
Discover Financial Services
News Release Contact:
Holly Sraeel
SourceMedia
732-306-8660
holly.sraeel@sourcemedia.com
Corporate Contact:
Anne O'Brien
SourceMedia
212-803-8280
anne.obrien@sourcemedia.com
