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Most Powerful Women in Banking 2022

The Most Powerful Women in Finance 2022

ByMary Ellen Egan
October 5, 2022 6:00 AM
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While this year marks the 20th anniversary of the Most Powerful Women in Banking, a separate finance list didn't appear until 2008.  At the time, the list was called "The Top 24 Nonbank Women in Finance."

At the top of the list that year was Nicole Arnaboldi, vice chair of alternative investments at Credit Suisse. Candace Browning, a longtime finance honoree who was then senior vice president and president of global research at Merrill Lynch, was ranked No. 12. 

This year, we opened up the list to include women who run stock exchanges. Adena Friedman, president and CEO of Nasdaq, and Lynn Martin, president of New York Stock Exchange, are making their debut on the list.

Coming back onto the list in a new position is Thasunda Brown Duckett, who took over the top job at financial services firm TIAA in 2021. Duckett is now only one of two Black women CEOs currently running a Fortune 500 company. 

Scroll through to see the full list of the 25 Most Powerful Women in Finance for 2022.

Also be sure to check out:

Mary Callahan Erdoes

CEO, Asset & Wealth Management, JPMorgan Chase

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The team at JPMorgan Chase's asset and wealth management division crunched the numbers on diversity at the end of 2021 and found that portfolio managers who are women and/or people of color manage 60% of the unit's assets.

Read her full profile.

Abigail Johnson

Chair and CEO, Fidelity Investments
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Malionek
When Abigail Johnson, the Chair and CEO of Fidelity Investments, was recently asked to advise those in the early stages of their career, she emphasized the core values that she and her firm have embraced for decades, "Don't doubt yourself. Keep at it. Stay looking ahead. Stay committed and stay true to yourself," she said.

Read her full profile.

Thasunda Brown Duckett

President and CEO, TIAA
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When Thasunda Brown Duckett took the reins at TIAA in May 2021, she continued her run as one of the financial industry's most powerful and well-known African American women. 

Read her full profile.

Adena Friedman

President and CEO, Nasdaq
Day Three Of The World Economic Forum (WEF) 2022
Jason Alden/Bloomberg
Adena Friedman started at Nasdaq in 1993 as an MBA intern. Outside of a three-year stint as the chief financial officer at Carlyle Group, Friedman has spent nearly 20 years at Nasdaq.

Read her full profile.

Lynn Martin

President, NYSE Group
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Lynn Martin, NYSE President December 4, 2021
Courtney Crow/NYSE
As a child, Lynn Martin nurtured her love of technology and coding on a Commodore 64 in her parents' home in Smithtown, New York.

Read her full profile.

Emily Portney

Chief Financial Officer, BNY Mellon
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Having run both businesses and client-relationship organizations, Emily Portney, chief financial officer of BNY Mellon, brings a well rounded vision to her oversight of the firm's finance functions, which include tax, treasury, capital management, and investor relations—where she regularly articulates and advocates the value of the franchise to the public.

Read her full profile.

Katy Knox

President, Bank of America Private Bank
Katy Knox
WESTON WELLS
Katy Knox began her career in 1986 at Fleet Bank in Boston. Unsurprisingly, she is a proud Patriots, Red Sox, Celtics and Bruins fan.

Read her full profile.

Nadine Chakar

Head of State Street Digital, State Street

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Scott Montgomery smontgomery.com
In June 2021, Nadine Chakar, the three-decades long industry veteran, was appointed to lead State Street Digital, a new business division.

Read her full profile.

Candace Browning

Head of Bank of America Global Research and Vice Chair of the Bank of America Institute, Bank of America 

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Candace Browning, long a leading voice in investment research, added a notable area to the stable of sectors her team covers: digital assets.

Read her full profile.

Elif Zapparoli

Managing Director, Co-Head Global Capital Markets, Bank of America Securities

 

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For Elif Zapparoli, the pandemic-era shift from in-person to remote work is similar to the trend she has seen in the financial services industry over the last 20 years.

Read her full profile.

Julie Monaco

Managing Director, Global Head of Public Sector Group, Citigroup

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2021 was a year of transition for Julie Monaco, as her team expanded its strategic sovereign advisory business to address client vulnerabilities in food, energy, and security. 

Read her full profile.

Suni Harford

President, UBS Asset Management
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Suni Harford ran into several obstacles after she set out to boost the number of women serving on the boards that oversee funds managed by UBS Asset Management.

Read her full profile.

Donna Milrod

Executive Vice President and Lead Acquisition Integration Executive - Brown Brothers Harriman Investor Services Business Integration, State Street

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Photography for State Street. Executive leadership team head shots.
Tom Kates
When State Street announced plans to acquire Brown Brothers Harriman Investor Services last year, it turned to a trusted executive to oversee the integration: Donna Milrod, who was leading both State Street's Global Asset Managers segment and the Global Clients division.

Read her full profile.

Diane Offereins

Executive Vice President, President, Payment Services, Discover

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Under the direction of the always visible Diane Offereins—who is often the "face of the company"—the total 2021 network volume of Discover rose to $504 billion, from $417 billion in 2020.

Read her full profile.

Teresa Heitsenrether

Global Head of Securities Services, JPMorgan Chase
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From the outside, Teresa Heitsenrether's career is a straight-line path of success. After earning a Master's degree in finance at New York University, she began work at JPMorgan Chase in 1987. 

Read her full profile.

Jenny Johnson

President and CEO, Franklin Templeton
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Jenny Johnson's career at Franklin Templeton has spanned over 30 years. During that time, she has held leadership roles in multiple divisions of the global investment firm, including investment management, technology, distribution and operations.

Read her full profile here.

Yie-Hsin Hung

CEO, New York Life Investment Management
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Yie-Hsin Hung, one of the few female CEOs in the asset management industry, has made it a priority to address issues of global warming and social inequality at New York Life Investment Management.

Read her full profile.

Charlotte McLaughlin

Head of Capital Markets, PNC Bank
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Like its peers, PNC Bank has stepped up investments in technology over the last few years. But Charlotte McLaughlin feels the bank can move faster in the capital markets group she leads.

Read her full profile.

Penny Pennington

Managing Partner, Edward Jones
Headshot of Penny Pennington
Headshot of Penny Pennington
Penny Pennington had worked for Edward Jones for some 17 years when she was named the managing partner in 2019. It was a remarkable moment for the venerable firm.

Read her full profile.

Gunjan Kedia

Vice Chair, Wealth Management and Investment Services, U.S. Bancorp

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thomas_strand
One of the basic assumptions of the wealth management industry is that investing professionals should be based in the same cities as their clients.

Read her full profile.

Michelle Seitz

Chair and CEO, Russell Investments

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Michelle Seitz has a long history of advocating  for responsible investing and diversity and inclusion. Before joining Russell Investments in Seattle as CEO in 2017, Seitz spent 22 years in senior roles at Chicago-based William Blair, where she pushed for diversity and support for women in finance.

Read her full profile.

Kara McShane

Head of Commercial Real Estate, Wells Fargo
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Kara McShane took over as head of the commercial real estate team at Wells Fargo at an inauspicious time: February 2020, when COVID-19 was heading towards pandemic status and offices were starting to empty out.

Read her full profile.

Kate Burke

Chief Operating Officer and Chief Financial Officer, AllianceBernstein

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NASHVILLE CORPORATE PHOTOGRAPHY
Four years after AllianceBernstein announced it was relocating its headquarters from New York City to Nashville, the move was completed in May.

Read her full profile.

Ida Liu

Global Head of Citi Private Bank, Citigroup

Ida Liu
CITI PRIVATE BANK/CITI PRIVATE BANK
Ida Liu became head of Citi's North American private bank in 2019 and then went on to beat her projections by 12% in 2020 despite the pandemic.

Read her full profile.

Maria Hackley

Managing Director, Global Co-Head of Industrials, Banking, Capital Markets and Advisory, Citigroup

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Maria Hackley, managing director and global co-head of industrials, banking, capital markets and advisory at Citi, understands how crucial it is for bankers to create strong, original content to distinguish themselves during client presentations.

Read her full profile.
Mary Ellen Egan
Senior Editor, Women's Programs, American Banker
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