SOURCE: SourceMedia

The 25 Most Powerful Women in Banking

September 23, 2009 09:30 ET

American Banker and U.S. Banker Rank The 25 Most Powerful Women in Banking and Financial Services

Heidi Miller of JP Morgan Chase; Karen Peetz of BNY Mellon; Pamela Joseph of U.S. Bancorp Top Exclusive Ranking

NEW YORK, NY--(Marketwire - September 23, 2009) - American Banker and U.S. Banker have released the names of The 25 Most Powerful Women in Banking™. The driving force behind this year's roster of honorees is the work these executives have done in steering their companies through the banking crisis.

The seventh-annual ranking, available in its entirety at and in the October issue of U.S. Banker magazine, recognizes the professional achievements, personal tenacity and influence of top-performing female financial executives in the financial industry. In addition to The 25 Most Powerful Women in Banking, the publications also name The Top 25 Most Powerful Nonbank Women in Finance, The Top 3 Banking Teams, and The 25 Women to Watch.

"These women have successfully adapted to lead their companies, their clients and their employees through challenging economic times," said Barbara A. Rehm, American Banker's editor in chief. "We are honored to recognize their achievements."

Heidi Miller, JP Morgan Chase's CEO of Treasury and Securities Services, topped this year's The 25 Most Powerful Women in Banking list for the third year in a row. Her division is considered a key earnings driver by CEO Jamie Dimon, and its influence within the organization has increased with continued overseas expansion into Asia, the Middle East and Europe. Miller's division, which provides complex transactional, custodial-asset and information services for corporate and government clients, has been a rock-steady performer for most of this decade, and now generates $9 billion a year in revenue.

Following Miller on the list is BNY Mellon's Karen Peetz, CEO of Financial Markets and Treasury Services. Peetz distinguished herself in the midst of last year's financial meltdown when a division she oversees, BNY Mellon's global corporate trust division, was tapped to administer the Troubled Asset Relief Program, beating out approximately 70 other firms. While leading this substantial project, Peetz has remained committed to developing the next generation of women through the bank's Women's Initiatives Network (WIN), which she founded five years ago to promote the advancement of women in the company.

"WIN has helped BNY Mellon leverage the company's existing and emerging talent," said Peetz. "The network gives us a natural channel for developing our employees, bolstering innovation and building high-performance teams."

Pamela Joseph, U.S. Bancorp's Vice Chairman of Payment Services, rounded out the top three for her industry-leading performance in the payments sector -- outperforming other major issuers during a time when the cards and payments industry was particularly challenged.

Honoree selections and rankings are based on a broad range of quantitative and narrative information submitted by the honorees and their firms, as well as on supplementary information gathered and compiled by the editorial staffs of the two publications. Among other things, the selections take into account an executive's influence and accomplishments, the size and scope of the business she oversees, and her philanthropic and mentoring activities.

As part of The 25 Most Powerful Women in Banking program, American Banker and U.S. Banker have also named The 25 Women to Watch. This year's ranking honors Sallie Krawcheck, Head of Global Wealth and Investment Management, Bank of America; Cece Sutton, Managing Director and Head of Retail Banking, Morgan Stanley; and Jane Fraser, CEO, Citi Private Bank, Citigroup.

The Top 25 Most Powerful Nonbank Women in Finance

For the third year, U.S. Banker and American Banker recognized The Top 25 Nonbank Women in Finance, the top performers in the securities, asset management, insurance, private equity and exchange businesses. Topping this year's ranking for the second year in a row is Nicole Arnaboldi, Vice Chairman of Alternative Investments, Credit Suisse. Following her on this year's list are: Stacy Bash-Polley, Partner and Managing Director, Goldman Sachs; Christina Gold, President and CEO, Western Union; Abigail Johnson, President of Personal and Workplace Investing, Vice Chair, Fidelity Investments; and Anne Stausboll, CEO of California Public Retirement Systems.

The Top 3 Banking Teams

The magazine also recognized The Top 3 Banking Teams, ranking U.S. Bancorp, BNY Mellon and Sunflower Bank, as the top three, respectively. U.S. Bancorp, headquartered in Minneapolis, has landed the top spot every year since the designation debuted in 2005.

To determine rankings for the top banking teams, the editors 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 growth-engine businesses led by women.

Awards Dinner in New York City, October 6

In conjunction with the published rankings, U.S. Banker, American Banker and SourceMedia will host an awards dinner celebrating honorees on October 6, 2009 at The Plaza in New York City. Pamela P. Flaherty, Director, Corporate Citizenship, President and CEO of the Citi Foundation, will be honored with the Marjorie Magner Lifetime Achievement Award, which recognizes a female executive's commitment to support education, equal opportunity and diversity.

Sheila C. Bair, Chairman of the Federal Deposit Insurance Corporation, will be the subject of a keynote question-and-answer forum. The conversation with Bair is expected to range from her handling of the banking crisis and conflicts with other regulatory and political leaders, to her perspective on women in the workplace.

About American Banker and U.S. Banker

American Banker ( is the banking industry's daily source of information, news and analysis covering national and global issues, mortgages, consumer finance, legislation, investment products, card and payment systems and technology.

U.S. Banker ( is written for executives who must generate greater profits and shareholder value for their financial institutions and covers market trends, regulations, innovations and individuals that reshape the financial services landscape.

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