Taken together, the effects of the digital economy—notably, the ability to reduce costs, maximize speed and open up services to new customers—is propelling a greater democratization of financial services. The leaders ranked as The Most Powerful Women in Finance are at the forefront of this technological transformation, adapting to change, driving results and exploring new opportunities that sit at the intersection of business and innovation.
Mary Callahan Erdoes, JPMorganChase CEO, Asset and Wealth Management: The CEO of JPMorganChase’s mammoth asset and wealth management (AWM) business moved into the company’s gleaming new headquarters at 270 Park Avenue a day earlier and underestimated the return time to her office after escorting a client to the entrance. Over the past year she’s shepherded the bank’s high-net-worth clients through a volatile spring, flown around the world to meet with heads of state and billionaires, spoken at big forums, including the World Economic Forum in Davos, Switzerland, and even helped fetch a record price for a venerable sports franchise. She also played a high-profile role as the most senior member of Chairman and CEO Jamie Dimon’s operating committee.
Thasunda Brown Duckett, TIAA President and CEO: When TIAA launched an IRA product broadening access to its proprietary annuity products on March 10, the stock market recorded one of its most volatile days in years. Investors were fretting over the impact of tariffs and the possibility of a recession. The day’s roller coaster ride reinforced what TIAA president and CEO Thasunda Brown Duckett already believed about the value of lifetime income annuities.
Katy Knox, Bank of America President, Bank of America Private Bank: Katy Knox is one of the longest-tenured female leaders in the U.S. private banking sector. Knox, president of Bank of America’s Private Bank since 2018 and a member of BoA’s executive management team, views her visibility as both a responsibility and an opportunity.
Lindsay Hans, Bank of America President, Co-Head of Merrill Wealth Management: In just her second year as president and co-head of Bank of America’s Merrill Wealth Management business, Lindsay Hans has met those challenges head on. In partnership with Eric Schrimpf, president and co-head of the 25,000-employee Merrill Wealth Management unit, Hans boosted year-over-year revenue by 9% in 2024 and increased the AUM balance of the Investment Advisory Program by 18% year-over-year, among other accomplishments. The unit’s success has continued into 2025. During the first half of this year, Merrill Wealth Management posted nearly $10 billion in revenue, and wealth management advisors added 12,700 clients and more than 20,000 households. As of March 31, Hans and Schrimpf oversaw client balances of $3.5 trillion.