SOURCE: SourceMedia

September 28, 2007 08:25 ET

U.S. Banker Ranks the 25 Most Powerful Women in Banking

Heidi Miller of JPMorgan Chase, Carrie Tolstedt of Wells Fargo and Barbara Desoer of Bank of America Top the Exclusive "Influence" Ranking

5th Annual Ranking -- The 25 Most Powerful Women in Banking and The 25 Women to Watch; 1st Annual Ranking -- The Top 20 Nonbank Women in Finance

NEW York, NY--(Marketwire - September 28, 2007) - U.S. Banker, the leading magazine for senior bank executives published by SourceMedia, 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."

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.

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. 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. 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.

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.

The methodology for the performance-based influence ranking requires that a candidate hold her position for at least 12 months to be eligible for The 25 MPWIB, which considers year-over-year and three-year performance metrics, position and responsibility, job complexity, management style, charitable and philanthropic work, and overall influence within the institution and the industry. This year, 4,800 women were reviewed by the magazine to determine the 50 most influential honorees.

The magazine also recognized the "Top 3 Banking Teams," ranking U.S. Bancorp, Citi, and Wells Fargo as the top three, respectively.

In order 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.

The Top 20 Nonbank Women in Finance

U.S Banker unveiled a new ranking of the "The Top 20 Nonbank Women in Finance," topped by Zoe Cruz, co-president of Morgan Stanley, Paula Rosput Reynolds, Safeco's CEO, Susan Ulick, TIAA CREF's senior managing director and head of equity investments, Anne Stausboll, Chief Operating Investment Officer of CalPERS, and Clara Furse, CEO of the London Stock Exchange.

For the full rankings of "The 25 Most Powerful Women in Banking," "The 25 Women to Watch" and "The Top 20 Nonbank Women in Finance," visit

Gala in New York City, October 22

In conjunction with its published rankings, U.S. Banker and SourceMedia will host a Black and White Ball celebrating honorees on October 22, 2007 at The Pierre in NYC. The Black Tie gala will feature keynote speakers Amy Brinkley, global risk executive at Bank of America, and Sallie Krawcheck, chair and CEO of Citi Global Wealth Management. Catherine Allen, formerly of BITS, and Shirley Nelson, chairman and CEO of Summit Bank, will be honored with the Marion O. Sandler Lifetime Achievement Award and the Marjorie Magner Lifetime Achievement Award, respectively.

About U.S. Banker and SourceMedia, Inc.

U.S. Banker (, published for more than 116 years, is written monthly for the individuals charged with generating greater profits and shareholder value for their financial institutions, covering the 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 accounting and technology. SourceMedia offers its clients and subscribers professional publications, industry-standard data applications, and in-depth seminars and conferences.

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