Magazine article American Banker

Women in Banking Special Edition: 'Most Powerful' Rankings for 2015

Magazine article American Banker

Women in Banking Special Edition: 'Most Powerful' Rankings for 2015

Article excerpt

Byline: Tanaya Macheel

Our annual lists are out! Don't miss this year's complete rankings of the Most Powerful Women in Banking, the Women to Watch and the Most Powerful Women in Finance.

Those at the top of the rankings are familiar faces, with three-peats by KeyCorp's Beth Mooney and JPMorgan's Mary Callhan Erdoes. Even so you may be surprised to hear Mooney recount how her own management team once accused her of not doing enough to foster diversity. Erdoes pays tribute to a mentor of hers, the late Jimmy Lee, who had been JPMorgan's vice chairman.

Citigroup's Latin America CEO, Jane Fraser, is No. 1 on the Women to Watch list for the second time, having been tapped for yet another challenging new role. Female executives are in short supply at Citi's units in the 24-country region Fraser manages, but she is excited about the opportunity to help change that.

There are plenty of new honorees to read about too, including Kathy Rogers of U.S. Bancorp, Thasunda Duckett of JPMorgan Chase, Liz Dukes of Synovus and Janet Garufis of Montecito Bank & Trust.

The Boardroom Diversity Challenge

The Survey Says: In a survey of the women in our rankings, 86% said they serve on one or more boards. The vast majority (92%) are on the board of a nonprofit, but corporate boards are in the mix too, with 26% serving as directors at public companies and 24% at private ones. Check out the full results of the survey and what the women had to say about the effort to bring more gender balance to the boardroom here.

The New Top-Down Approach: There's a growing consensus that getting more women in the C-suite requires getting more women in the boardroom. "Boards and CEOs aren't doing enough to retain talented women, and I feel strongly that by getting onto these boards I can facilitate real change," says Manisha Girotra of the investment banking firm Moelis & Co. "Bottom up it can happen, but not fast enough because women don't speak up enough. We need a top-down approach." Find out how women in the banking sector -- including LeeAnne Linderman of Zions Bancorp. (No. 4 on the Watch list) -- are contributing to the boardroom push.

A Corporate Bias: Wells Fargo is the leader among its peers in boardroom diversity. How did it achieve that? Its tactics included eliminating the common corporate bias of only appointing C-suite execs to the board, along with other very interesting and deliberate changes. …

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