Top Women in Finance in the U.S.
Updated on Mar 16 2018
Finance used to be considered only a man’s role. Thankfully, today, women are beginning to be recognized in the financial marketplace not only as contributors and innovators, but also as smart, insightful leaders. Gender equality and diversity in inclusion are powerful terms that have made a big impact in the workplace – and the financial services industry has some trailblazing women who influence, control, direct and manipulate the world’s wealth as a result.
According to Catalyst.org, women represent nearly half of all employees in the global financial services industry. However, women’s representation at leadership levels remains low in the global financial services industry as women only head 25% of senior-management roles, reports The Grant Thornton International Business Report. Every year, though, the numbers of women in finance grow as women are encouraged to excel in business and math and journey into the financial workplace.
Here are some of the most remarkable, inspiring and powerful ladies who are ‘paving the way’ for other women in the financial services industry.
1. Janet Yellen, Chair, Federal Reserve Bank
Janet is a Yale and Brown educated economist who became the first female head of the U.S. Federal Reserve. According to Forbes, Yellen has quite the impact on the financial marketplace as “a single word from her can send asset prices swinging.”
2. Mary Shapiro, Chair, Securities and Exchange Commission
Mary Shapiro is known for saying, “The longer we wait to start all that work, the harder it gets.” She served as the 29th Chair of the U.S. Securities and Exchange Commission and is the first woman to serve as the agency’s permanent Chairman. She was appointed by President Barack Obama, unanimously confirmed by the U.S. Senate, and assumed the Chairship on January 27, 2009.
3. Sally Krawcheck, Owner and Chair of Ellevate Network
Sallie Krawcheck is the CEO and Co-Founder of Ellevest, a digital financial advisor for women launched in 2016. She is the former president of Global Wealth & Investment Management for Bank of America, one of the largest wealth management businesses in the world with more than 20,000 financial advisors across the entire wealth spectrum and $2 trillion in total client assets. For six straight years, from 2002 to 2007, Fortune recognized Krawcheck as one of the “Most Powerful Women” in business. Forbes magazine, in 2006, listed her as #6 in the rank of the “World’s 100 Most Powerful Women.”
4. Abigail Johnson, CEO, Personal, Workplace and Institutional Services, Fidelity Investments
Abigail is known as a pioneer in the world of investing. She took over the family business, the mutual-fund colossus Fidelity Investments, in 2012, which is responsible for more than $3.7 trillion in assets. She has served as the Chief Executive Officer at FMR LLC., since 2014. She previously served as the firm’s President from 2013 to 2016. She has been the President at Fidelity Financial Services, L.L.C. since 2012. She has served as the Chairman and Chief Executive Officer at Fidelity Investments since September 2013, and is also Head of Distribution Channels and President of Personal, Workplace and Institutional services Unit.
5. Mary Callahan Erdoes, CEO, J.P. Morgan Asset Management
Mary Callahan Erdoes is Chief Executive Officer of J.P. Morgan Asset Management, a global leader in investment management and private banking with more than $2.2 trillion in assets under supervision. According to Forbes, Mary “remains a steady rainmaker for JPMorgan Chase.” As head of the Asset & Wealth Management business, she grew assets under management to $1.9 trillion as of the second quarter of 2017.
6. Ruth Porat, CFO, Alphabet Inc. and Google
Ruth Porat is a British-American financial executive, who currently serves as chief financial officer of Alphabet Inc. as well as its subsidiary Google. Porat was CFO and executive vice president of Morgan Stanley from January 2010 to May 2015. Porat is known for saying that she “loves data,” according to a recent CNBC article and claims “giving business-unit managers accurate data to support their decisions is her most important function.”
7. Beth Mooney, CEO, KeyCorp
Beth Elaine Mooney is an American financial executive who is the first woman to be CEO of a top-20 U.S. bank. On May 1, 2011 KeyCorp named Mooney its chairman and chief executive officer of the Cleveland, Ohio-based bank. Her advice to ambitious women today is inspiring:
“Don’t hold back,”says Mooney. “I never said ‘no’ to a challenge. I never said ‘no’ to an opportunity. Have enough confidence in your own ability and your ability to work hard and make good decisions and go into the unknown. And I think you will learn more than you’ll ever imagine you can learn and you build confidence by accepting those challenges versus hanging back and saying ‘I’m not ready’ or ‘I don’t want to do that.’”