women claim their place - crain's new york business · elevation to co-managing partner and...

Women claim their place in finance

We congratulate Carin Pai and all of

2019’s Notable Women, for their notable

achievements and dedication to the

New York City community.

© 2019 Fiduciary Trust Company International and subsidiaries (doing business as Fiduciary Trust International) are part of the Franklin Templeton Investments family of

companies. All rights reserved.

More than 85 Years of Truly

Personalized Wealth Management.

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INDEX OF HONOREES

PAGES 24-25

Ellen Alemany

Barbara Desoer

Mary Callahan Erdoes

Adena Friedman

Sallie Krawcheck

Marianne Lake

Barbara Novick

Ellie Wheeler

Anne Clarke Wolff

PAGE 26

Karen Altfest

Alexandra Barth

Fiona Bassett

Lissa Baum

Katia Bouazza

Lori Calvasina

PAGE 28

Stephanie Cohen

Susan Cullen

Dafna Dothan

Hafize Gaye Erkan

Laura Fazio

Carolyn Finer

Aleida Frederico

PAGE 30

Sharon French

Claudine Gallagher

Lorraine George-Harik

Leslie Godridge

Maria Grasso

Deborah Gravinese

Maria Hackley

PAGE 32

Marisa Harney

Susan Huang

Andrea Kantor

Audrey Kaplan

Michal Katz

Nancy King

Esther Lainis

PAGE 34

Janice Liu

Elizabeth Magennis

Ellen Marshall

Alison Mass

Doris Meister

Melissa Melvin

Denise Menelly

PAGE 36

Anneliese Seelaus Mitnick

Julie Monaco

Michelle Neal

Sandie O’Connor

Shelley O’Connor

Carin Leong Pai

Raquel Palmer

PAGES 38-39

Abby Parsonnet

Tina Chan Reich

Diane Reyes

Josephine Savastano

Luvleen Sidhu

Elena Sisti

PAGES 40-41

Denise Smyth

Magda Souffront

Emily Stoddard

Christine Waldron

Anne Walker

Yael Weinstock-Shemesh

COPY EDITOR______ COLD READER______ WRITER______ SENIOR EDITOR______ FINAL______

22Women claim their place in

finance

42Making a difference

How women in finance find ways to give

back

24Profiles of the 2019 Notable

Women in Banking & Finance

Contents

Personal and Exceptional.Santander congratulates Laura Fazio and Ellen Marshall for making Crain’s Notable Women in Banking and Finance list.

santanderbank.com

©2019 Santander Bank, N.A. All rights reserved. Santander, Santander Bank and the Flame logo are trademarks of Banco Santander, S.A. or its subsidiaries in the United States or other countries. All other trademarks are the property of their respective owners. 298704 03/11/2019


Congratulations, Leslie Godridge, on being named a

2019 Notable Woman in Banking and Finance! U.S. Bank

proudly recognizes your outstanding leadership and

inspiring contributions to our industry. With over 30 years

in financial services, you combine in-depth expertise,

vision and commitment to push boundaries and redefine

excellence in banking. Thank you for passionately

working to build new opportunities at U.S. Bank.

Celebratinginspiring women in banking

Member FDIC. ©2019 U.S. Bank.

Leslie GodridgeVice Chairman and Co-Head,

Corporate & Commercial Banking

Untitled-3 1 3/4/19 11:35 AM

P. 18 Fiduciary Trust International

P. 19 Santander

P. 20 U.S. Bank

P. 21 KPS Capital Partners, LP

P. 23 Citi

P. 25 Flushing Bank

P. 27 ConnectOne Bank

P. 29 HSBC

P. 31 CIT

P. 33 Capital One

P. 35 Wilmington Trust/M&T Bank

P. 37 IDB Bank

P. 38 City National Bank

P. 39 Webster Bank

P. 40 U.S. Bank

P. 41 BHI

P. 43 RBC Capital Markets

INDEX OF ADVERTISERS

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The industry overall remains

male-dominated. But women

leaders say change has arrived.

When Andrea Kantor, a senior vice president at IDB Bank, began her career in the 1980s on Wall Street, she faced a harsh set of stereotypes that assumed—and helped en-sure—few women would keep jobs there for long.

The stereotypical female professional on Wall Street, she recalls, would remain single and be available to work all hours, with no homelife that required balancing. Yet they would never run the company. Men, meanwhile, would marry and have children. What’s more, men were the only ones in the top jobs.

One day, Kantor went to a job interview at an investment bank that succinctly drove home the double standard. The interviewer pointed to a picture on his desk of his three daughters, who were close to Kantor’s age, and talked about their aspirations—to get married, to become mothers.

“He was basically telling me this should be my goal,” she said. “I knew immediately I couldn’t work there. It con-firmed I should leave the industry.”

That experience led Kantor to commercial banking, where women had already begun to ascend the ranks. There, she saw examples of the life she wanted—and the life she would one day have: Women held leadership positions and had families—just as the men did.

The industry has changed significantly since then.

For one thing, more women now work on Wall Street. In addition, women have assumed some of the top roles at major financial services companies. Many workplac-es across industries have tried to attract and hire more women.

Nevertheless, some challenges persist.

Only 31 percent of senior-level leaders in commercial banking are women, according to figures from Catalyst, a nonprofit that advocates for women in the workplace. In investment banking, that number drops to 17 percent. A 2016 study by Morningstar shows that women man-age less than 10 percent of U.S. mutual funds. A pay gap exists for women across the financial industry, the U.S. Bureau of Labor Statistics found.

Despite these numbers, women in top banking and finance positions say change is here—and they expect more of it down the road.

Some bias remainsKantor says women are much more accepted in the work-place than they were when she started out. Managers no longer expect women to leave their careers permanently if they have children, she says, and it’s no shock when a woman takes command of a team—but women still face unconscious bias.

“People tend to see certain qualities in a positive light when demonstrated by a man and see the same qualities in a negative light when demonstrated by a woman,” she said. “The [words] that people choose when talking about women versus men tend to be stereotypes—a man being ‘ambitious’ or ‘tenacious’ versus a woman being a ‘shrew’ or ‘aggressive.’”

Biases against women are not nearly as overt or common as they once were, Kantor says, but women still must contend with them.

Being heard also remains a challenge for women in some workplaces.

Luvleen Sidhu, who co-founded BankMobile in 2015, says women are more timid than men about speaking up for themselves. At the same time, some male colleagues make the problem worse, Sidhu says.

“Sometimes when women speak up,” she said, “I have heard men cut them off and start talking.”

In those situations, Sidhu makes it a point to intervene: “I try to call that out in a professional way, helping that person speak up again by saying, ‘Hey, you were saying something. I want you to finish that thought.’”

Effective managers and the example set by company leaders can help change both of those behaviors and the mindsets that contribute to them, Sidhu says. Yet even at senior-executive levels, this issue can carry over into salary negotiations. Male senior leaders are typically direct about their salary expectations, Sidhu explains. They advocate for themselves, citing their market value and opportunity costs.

“You never have those conversations with women,” she said. “Women are like, ‘I really enjoy working here. I appre-ciate a seat at the table. I just want to be paid fairly.’”

The result? “Women are underpaid,” she said.

Leaders must step in to help dismantle these patterns and generate change, Sidhu says. Sidhu’s employees receive mentorship and coaching, which she says help prepare them to pursue their career goals.

Leadership sets the exampleWhen women are represented at the top levels of leader-ship, younger employees see that there is a place for them too. This dynamic has held true for Dafna Dothan, chief risk officer at Leumi.

She joined the company’s U.S. arm after 16 years in Israel at Leumi, the nation’s largest bank. Leumi garnered attention for having two consecutive female CEOs and a high percentage of women in leadership positions. With that company culture, Dothan says, gender has been a nonissue in her career.

At work and at home, Dothan says, she’s had support for breaking out of traditional gender roles and pursuing her full career potential.

“I always looked at myself as an individual,” she said. “The questions I’ve always asked myself are, How, as an individual, I can succeed? How can I climb up the lad-der?’ Not: How—as a woman—can I succeed?”

Confidence is keyIndustry insiders agree that confidence is a necessity for women who want to make it to the top.

For instance, Sidhu realized early in her career she need-ed to get comfortable taking credit for her accomplish-ments. Women often water down their achievements, she says, by attributing their actions and successes to their teammates—sometimes not even noticing when they say

“we” instead of “I.”

“You need to be a team player, but women also need to be very clear about their added value and speak up about what their contri-bution is,” she said.

Sidhu recommends that women keep a record of what they con-tribute at work and the effects of their efforts. By taking note of these contributions, women can make a more persuasive case for a raise or a promotion, she says.

Insiders also agree that women have reason for confidence be-cause the tide is changing. Today’s companies are more aware of inequality’s negative effects on workplaces. In response, many firms have taken steps to level the

playing field by changing policies, boosting awareness and actively seeking diverse hiring pools.

In this era, being different from the status quo might give finance professionals an advantage.

“I was 28 when I co-founded BankMobile,” Sidhu said. “People were excited about a different perspective—the passion, the energy I came in with. That got them excited and gave them a desire to listen closer.”

Not every slice of the industry has become more inclusive at the same pace, however. For example, women own only 5 percent of hedge funds, according to a 2017 report by the Bella Research Group and the John S. and James L. Knight Foundation.

While there’s still room to improve, Kantor says, the in-dustry has made significant strides. Young women today start their careers in an altogether different climate than the one she confronted, she says, and they know they can reach the top if they want to.

The examples, the mentors, the support they need—they are all there and slowly gaining momentum in more ways than ever before.

Women claim their place in finance

“You need to be a team player, but women also need to be very clear about their added value and speak up about what their contribution is”

Luvleen Sidhu BankMobile


22 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019

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From your Citi Family

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A big round of applause for making Crain’s Notable Women in Banking and Finance list.

And another. And another.

Congrats to Barbara Desoer, Julie Monaco and

Maria Hackley. Your relentless dedication to

progress is an inspiration to us all.

From your Citi Family

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ELLEN ALEMANYChairwoman and CEO

CIT GROUP

Since her appointment as chairwoman and CEO in 2016, Ellen Alemany has directed CIT’s evolution as a leading national bank empowering businesses and personal savers. Prior to joining CIT, Alemany served as chairwoman and CEO for RBS Citizens Financial Group Inc., where she oversaw all of the Royal Bank of Scotland’s businesses in the Americas. Before that, she held a num-ber of executive positions at Citigroup, including CEO for global transaction services, executive vice president for commercial business and president and CEO of Citi Capital. Alemany devotes much of her personal time to charitable causes. She sits on the boards of directors for the Center for Discovery, Operation HOPE and Partner-ship for New York City. She also advises the Mayor’s Fund to Advance New York City.

BARBARA DESOERChief executive officer

CITIBANK, N.A.

Barbara Desoer oversees approximately 75% of Citigroup’s total assets. She leads Citigroup’s anti-money-laundering function and contributes to the bank’s comprehensive capital analysis and review process. Desoer served as the co-head of the Citi Wom-en global women’s initiative from 2014 to 2016. She is a member of the board of directors of DaVita Inc., a health care company dedicated to kidney care, and a member of the board of visitors of the University of California, Berkeley. Prior to joining Citi, Desoer held various roles at Bank of America, including president of home loans, global technology and operations executive, president of consumer products and director of marketing. Desoer is retiring from Citi in April and joining the Citi board.

MARY CALLAHAN ERDOESCEO

JPMORGAN ASSET & WEALTH MANAGEMENT

For six years running, American Banker has iden-tified Mary Callahan Erdoes as its Most Powerful Wom-an in Finance. Under Erdoes’ stewardship, JPMorgan Chase’s asset and wealth management division reached a record-high of $2.8 trillion in client assets in 2018. Erdoes also made history when she made her division the first foreign-owned asset management company to operate in Shanghai’s free-trade zone in 2016. Before joining JPMor-gan Chase, Erdoes worked at the fixed income advisory firm Meredith Martin & Kaye, as well as Bankers Trust, where she worked in corporate finance, merchant bank-ing and high-yield debt underwriting. Erdoes donates her time and expertise to several nonprofits, including Robin Hood, the U.S. Fund for UNICEF and the U.S.-China Business Council.

ADENA FRIEDMANPresident and CEO

NASDAQ INC.

In her leadership position at Nasdaq, Adena Friedman helped secure the company’s status as a leading global exchange operating across six continents. After joining the firm in 1993, she has played critical roles on Nasdaq’s management team for more than a decade, including head of corporate strategy and chief financial officer. She oversaw the company’s acquisitions of INET, OMX and the Philadelphia and Boston Exchanges. Friedman also served three years as chief financial officer and manag-ing director of The Carlyle Group, where she played an instrumental role in taking the firm public. She returned to take Nasdaq’s helm in 2014. Friedman has served on the board of Junior Achievement of Greater Washington, an organization that prepares youth for success in the workplace.

SALLIE KRAWCHECKCEO and co-founder

ELLEVEST

Sallie Krawcheck’s profes-sional mission is to get more money into the hands of women. She’s been named the Seventh Most Powerful Woman in the World by Forbes and listed on Vanity Fair’s 2018 New Establishment List for her role as CEO and co-founder of Ellevest, a digital investment platform designed specifically for women. Krawcheck chairs both the Ellevate Network, an inter-national network for women professionals, and the Pax Ellevate Global Women’s Leadership Fund. Her book, “Own It: The Power of Women at Work,” is a Wall Street Journal and Washington Post bestseller. Before launch-ing Ellevest, Krawcheck built a successful career on Wall Street, serving as CEO at Merrill Lynch, Smith Barney, US Trust, the Citi Private Bank and Sanford C. Bernstein.

MARIANNE LAKEChief financial officer

JPMORGAN CHASE

Marianne Lake has been JP-Morgan Chase’s chief financial officer since 2012, and today she also serves on its operating committee. Her previous roles at the firm include CFO of Consumer & Community Banking and global controller of the Investment Bank. She also managed the firm’s global financial infrastructure and control programs as part of the Corporate Finance group. Fortune named Lake to its Most Powerful Women list in 2018. She serves on the board of directors for the JPMorgan Chase & Co. Foundation, which in 2017 alone gave $250 million to organizations in the U.S. and around the world. Lake co-founded JPMorgan Chase’s empowerment-oriented Women on the Move initiative and sits on the board of the New York City Ballet.

Crain’s is proud to present the second annual class of Notable Women in Banking & Finance. Our

list includes nine trailblazers whose careers have lit the way for the next wave of women leaders,

often through initiatives designed to uplift those who follow in their footsteps. Both they and the

notable honorees who follow them have demonstrated outstanding achievement within their firms

and their communities.

Source: †Harvard Business Review/U.S. Bureau of Labor Statistics



Today 47 percent of management and professional roles in American financial firms are occupied by women†

BARBARA NOVICKVice chairman

BLACKROCK

A co-founder of BlackRock, Barbara Novick has been with the firm since its inception in 1988. In her early years with BlackRock, she oversaw glob-al business development, marketing and client service for institutional and individual investors. Novick currently manages BlackRock’s global public policy and investment stewardship initiatives. Novick serves as a trustee of her alma mater, Cornell University, and sits on the executive committee of the Investment Company Institute. She has also served lengthy volunteer stints with the Westchester Jewish Center and the Westchester Youth Soccer League. Novick received the 2013 Effecting Change Award from 100 Women in Hedge Funds and the Pioneer Award from Chief Investment Officer magazine, and earned Markets Media’s 2016 Lifetime Achievement Award.

ELLIE WHEELERPartner

GREYCROFT

Ellie Wheeler is a partner in the New York office of the ear-ly-stage venture capital fund Greycroft. She held a similar position evaluating invest-ment opportunities for Lowercase Capital before leaving for Greycroft in 2011. Wheeler’s experience also includes a stint in corporate development at Cisco, where she worked on acquisitions, investments and strategy. Her work at Cisco focused on the unified communications, enterprise soft-ware, mobile and video sectors. While there, she oversaw acquisitions and investments including PostPath, Jabber, Xobni and Tandberg. Wheeler began her career in growth capital private equity at Summit Partners in Boston. She graduated magna cum laude from Georgetown and earned her MBA from Harvard Business School.

ANNE CLARKE WOLFFHead of global corporate banking and global leasing

BANK OF AMERICA MERRILL LYNCH

From her New York office, Anne Clarke Wolff oversees a team of 400 profession-als across 45 cities in 30 countries for Bank of America Merrill Lynch’s entire global corporate banking effort. She also leads the largest U.S. leasing company, serv-ing 64,000 clients worldwide. American Banker named her one of its Most Powerful Women in Banking. Prior to her tenure at Bank of America, Wolff led global sales for treasury and securities services at JPMorgan Chase, where she drove double-digit growth. She also headed several divisions at Citigroup, shepherding Fortune 500 companies through inaugural bond offerings, corporate restructuring and acquisition financing. Wolff serves on the boards of The Public Theater, the Brooklyn Historical Society and Amphenol Corporation.


Small enough to know you.Large enough to help you.®

Flushing Bank is a registered trademarkwww.FlushingBank.com

Susan K. CullenSenior Executive Vice President,

Treasurer and Chief Financial Officer

Flushing Financial Corporation

Maria A. GrassoSenior Executive Vice President, Corporate

Secretary and Chief Operating Officer

Flushing Financial Corporation

Flushing Bank is proud

of your recognition

among Crain’s Notable

Women in Finance.

Thank you both for

the dedication and

leadership you provide

each day.

Congratulations Maria A. Grasso and Susan K. Cullen

2019-03-05 Flushing Bank Ad for Crains Notable Women in Finance FANAL.indd2019-03-05 Flushing Bank Ad for Crains Notable Women in Finance FANAL.indd 1 1 3/5/2019 11:09:08 AM3/5/2019 11:09:08 AM

In 1967 Muriel Siebert became the first woman to buy a seat on the New York

Stock Exchange†

The Global Banking Alliance for Women, a consortium of financial institutions

across 135 countries, was established in 2000 with a goal of providing women entrepreneurs the tools they need to succeed*

Research suggests organizations with

diverse management teams make better decisions because they are less

prone to groupthink and more able to see issues

from many angles††

KAREN ALTFESTExecutive vice president and principal advisor

ALTFEST PERSONAL WEALTH MANAGEMENT

As an executive vice president at Altfest Personal Wealth Management, Karen Altfest works directly with clients on investment issues and financial planning. She specializes in working with women and widows, and is passionate about education and empowerment. To that end, she has designed programs such as Financially Savvy Woman® to help clients develop financial knowledge. Altfest has served in several roles in academic settings, including co-director of the Financial Planning and Investments Program at The New School in New York City. She cur-rently helps lead the Alumni Professional Development Task Force of the CUNY Graduate Center.

ALEXANDRA BARTHManaging director and co-head of U.S. leveraged capital markets

DEUTSCHE BANK

In her career at Deutsche Bank, Alexandra Barth has been personally involved in raising more than $100 billion in the media and telecommunication sectors. As managing director and co-head of U.S. leveraged capital markets, she is essential to the origination and execution of high-yield financings. She also manages the firm’s risk position in underwritten bond transactions. The roster of marquee clients with which Barth has worked includes DISH, Echostar, Charter, Univision, Virgin Media, Soft-bank, T-Mobile and Wind Telecom. In 2014, Barth’s work was cited by IFR when the magazine named Deutsche Bank U.S. Debt House of the Year.

FIONA BASSETTGlobal co-head of products and global co-head of passive asset management

DWS GROUP

Since joining DWS Group (formerly known as Deut-sche Asset Management) in 2004, Fiona Bassett has held multiple leadership positions. In her current roles, Bassett develops and strategizes passive asset solutions for the company worldwide. She also coordinates and manages active, passive and alternative products at DWS. Bassett is active in DWS Group’s People Engagement Group, which encourages employees to participate in volunteering, community service and charitable events, and serves as a member of the Sustainable Investing Leadership Team. Bassett is a member of Women in ETFs, and she was re-cently named a fellow of the Foreign Policy Association.

KATIA BOUAZZACo-head of global banking for Latin America

HSBC

Katia Bouazza began her HSBC career in 1996 and currently oversees the bank’s client coverage in all sectors in Latin America, as well as financing solutions for the re-gion. She also leads HSBC’s coverage and product teams in both the U.S. and Latin America. American Banker named Bouazza one of the 25 Most Powerful Women in Finance for the past six years. Under her leadership, HSBC has received several major industry honors, in-cluding Latin America’s Best Bank for Financing in 2016, from Euromoney. Bouazza supports the Family Equality Council, which advocates for LGBTQ families.

LISSA BAUMExecutive vice president and chief lending officer

IDB BANK

A 23-year veteran of IDB Bank, Lissa Baum heads the company’s corporate lending, asset based, real estate and factoring departments. She also partners with the firm’s L.A. and Florida offices to develop their loan portfolios.After earning a bachelor’s degree from McGill Universityin Montreal and an MBA in finance from NYU, Baumlaunched her financial services career with a 10-year stintat Chemical Bank, now known as JPMorgan Chase. Baumfavors a client-centric approach, earning her a reputationwith her customers as a dedicated, hands-on and hard-working leader.

LORI CALVASINAHead of U.S. equity strategy

RBC CAPITAL MARKETS

Lori Calvasina is well known among the financial media for her expertise on the U.S. stock market. CNBC and Bloomberg frequently invite her to weigh in on market trends. Prior to joining RBC Capital Markets in 2017, Calvasina spent nearly two decades in equity strategy at major investment banks, including Credit Suisse. Before that, she worked at Citi, where she twice placed second in the small companies category of Institutional Investor’s All-America Research Team. Calvasina earned her degree in government and foreign affairs at the University of Virginia where she was a Lawn Resident, one of the insti-tution’s highest honors.

Sources: *Global Banking Alliance †Forbes ††Mercer

CN019041.indd 1 3/4/19 5:10 PM

Under your bold leadership,

ConnectOne Bank has defied the

expectations of what a bank can be.

Your commitment to always putting the

client first and acting with a sense of

urgency has allowed us to build one of

the best performing banks in the

country. We thank you for making us

a better place to be.



CN019041.indd 1 3/4/19 5:10 PM

Under your bold leadership,

ConnectOne Bank has defied the

expectations of what a bank can be.

Your commitment to always putting the

client first and acting with a sense of

urgency has allowed us to build one of

the best performing banks in the

country. We thank you for making us

a better place to be.

Female representation on boards in the financial

services industry has increased by two-thirds in the past 10 years*

In the early 1900s, Maggie Lena Walker

became the first woman bank president in the

United States; she chartered St. Luke’s Penny Savings

Bank, a community lending institution that

sought to promote savings and homeownership,

namely for women and racial minorities†

CN019050.indd 1 3/4/19 11:43 AM

STEPHANIE COHENChief strategy officer

GOLDMAN SACHS

Stephanie Cohen leads Launch with GS, the firm’s first for-profit investment initia-tive committed to women’s economic empowerment. Before becoming managing director and chief strategy officer at Goldman Sachs, Cohen was global head of financial sponsor mergers and acquisi-tions in the investment banking division, sector captain for general industrials in the global industrials group and a vice president in the industrials and merger leadership groups in San Francisco. She serves on the boards of directors for CollegeSpring and Quill.org. Cohen graduated summa cum laude from the University of Illinois with a bachelor’s in finance.

SUSAN CULLENSenior executive vice president, treasurer and CFO

FLUSHING BANK

At Flushing Bank, Susan Cullen oversees general accounting, treasury, asset li-ability management, strategic planning, tax functions, investor relations and regulatory compliance. The organization credits Cullen’s diverse areas of expertise for its financial performance and strong relationships within the investment community. Before joining Flushing Bank in 2015, she accrued more than two decades of experience at firms in the banking, ac-counting, business services and utility industries. Cullen donates her time to Neighborhood Housing Services of New York City, where she sits on the board and chairs the audit committee.

HAFIZE GAYE ERKANPresident

FIRST REPUBLIC

In addition to her role as president, Hafize Gaye Erkan manages First Republic’s investment portfolio and oversees the bank’s deposit gathering franchise and banking activities in Boston and New York. She was recently named to the Board of Directors. Before joining First Republic, she was the managing director and head of Goldman Sachs’s financial institutions group, where she worked with banks, insurance companies and other financial institutions on balance sheet optimization, restructurings and risk management. Erkan holds a doc-torate in operations research and financial engineering from Princeton University and for a time was the young-est finance professor in the United States.

LAURA FAZIOHead of commercial banking technology, media and telecommunications

SANTANDER

Laura Fazio leads U.S. strategy and investment in technology, media and tele-communications for Santander’s commercial bank. Before joining Santander, she was the managing principal at Twin Oaks Advisors, a boutique investment banking advisory firm she founded in 2010. In that role, Fazio advised small-cap and middle-market technology, media and entertainment companies seeking structured capital investment from institutional investors. Fazio has held leadership posi-tions at Aladdin Capital Management, Deutsche Bank and Dresdner Kleinwort. She earned her Master of Business Administration from the Thunderbird School of Global Management at Arizona University.

CAROLYN FINERSenior investment strategist and managing director

CITY NATIONAL ROCHDALE

Carolyn Finer brings more than 25 years of experience in investment management to her role at City National Rochdale, where she works with City National’s private bank to lead investment business development efforts for high-net-worth private clients and institutions. As a committee member of City National’s Women’s Network-ing Group in New York, she helps support programs to expand women’s opportunities for career and leadership development. She has served on a local private school board and stays active in her community as a member of the Two Rivers Women in Business Consortium and the Middletown Tennis Association.

DAFNA DOTHANChief risk officer

LEUMI

Dafna Dothan joined Leumi’s U.S. operation as chief risk officer in 2009. Ear-lier in her career, she held var-ious management positions in the corporate division of the Leumi Group, Israel’s oldest banking corporation and among the largest financial firms in the Middle East. Do-than earned a master of business administration degree from Tel Aviv University. She currently sits on the board of trustees for the National School Climate Center, a charity organization based at Columbia University that promotes learning environments that support social, emotional, civic and academic development for all students.

Sources: *Oliver Wyman †The Washington Post

ALEIDA FREDERICOVice president; senior relationship manager in commercial lending

TD BANK

Aleida Frederico is a passion-ate advocate for inclusion and diversity in her community. In her role with TD Bank she provides customized banking solutions for business, education and not-for-profit institutions in New York. A native of Cuba, Frederico is a founding board member of 100 Hispanic Women Leaders’ Westchester chapter and chair of TD Bank’s Regional Diversity Council for Metro New York. She recently received the Women’s Enterprise Development Center’s 2018 Enterprising Woman Award and the African American Men of Westchester Visionary Award, which recognizes outstanding individuals who have contributed to the enhancement of the Westchester community.



CN019050.indd 1 3/4/19 11:43 AM

© 2019 CIT Group Inc. All rights reserved. CIT and the CIT logo are registered trademarks of CIT Group Inc.

Navigatingthe wayforward.Congratulations to Ellen Alemany,Denise Menelly and Marisa Harneyfor being selected as Notable Womenin Banking and Finance by Crain’s.You’ve built a culture of integrityand inclusivity that inspires us all.

cit.com | @CITgroup

Denise M. MenellyHead of Technology & Operations

Ellen R. AlemanyChairwoman and CEO

Marisa HarneyChief Credit Officer

CN019043.indd 1 3/4/19 11:33 AM

MARIA GRASSOSenior executive vice president, corporate secretary and chief operating officer

FLUSHING BANK

In her 12 years as Flushing Bank’s chief operating officer, Maria Grasso has managed sales and operations, ethnic markets, business, government and internet banking, as well as the retail bank. She also spearheads the compa-ny’s process reengineering, expense management and corporate change management initiatives. Grasso is currently a member of the National Board of the Ameri-can Kidney Fund and president of the Hofstra University Frank G. Zarb Business School Alumni Association. She previously chaired United Way of Long Island’s board of directors. This year, she will serve as an event chair for the 2019 American Heart Association’s Go Red for Women campaign.

In 2014 Janet Yellen became the first chairwoman

of the Federal Reserve*

After being denied admission into the Young

Men’s Investment Association on Wall Street in 1956, eight women formed the

Young Women’s Investment Association, which still

thrives today†

SHARON FRENCHExecutive vice president and head of beta solutions

OPPENHEIMERFUNDS

Since 2016, Sharon French has overseen OppenheimerFunds’ environmental, social and governance efforts. She leads the development and implementation of smart beta ETF solutions. As a member of the senior leadership team, she also plays an integral role in the firm’s overall strategic direction. French serves on the board of Women in ETFs, the first international group dedicated to furthering the careers of women in the ETF industry. Before joining OppenheimerFunds, French held senior positions at BNY Mellon, F-Squared Capital and BlackRock. She has also held positions with AllianceBernstein, mPower, Smith Barney and Chase Manhattan Bank.

CLAUDINE GALLAGHERHead of securities services, Americas

BNP PARIBAS

Since 2012, Claudine Gallagher has worked for BNP Paribas, where she currently serves as head of the Ameri-cas for the firm’s Securities Services business. Gallagher’s responsibilities include strategic development, marketing initiatives and spearheading client and product devel-opment throughout the region. She recently joined the board of directors of the Depository Trust & Clearing Corporation. For each of the past three years, American Banker Magazine has listed her as one of its 25 Most Powerful Women in Finance. Gallagher also sits on the board of the French-American Chamber of Commerce in New York.

LORRAINE GEORGE- HARIKCo-founder and partner

CERITY PARTNERS

Lorraine George-Harik helped launch Cerity Partners, a comprehensive financial services firm, where she now serves on the executive and personnel development committees. She has more than 25 years of experience in wealth management, corporate and international banking, and capital markets. She has held leadership positions at Citi Private Bank in New York, First Chicago’s International Banking Department and sovereign wealth agencies in the United Arab Emirates. George-Harik volunteers for the Metropolitan Museum of Art and the Church of Our Saviour. She also is a patron of the American Friends of the Louvre and St. Jude Children’s Hospital.

LESLIE GODRIDGEVice chairman and co-head of corporate and commercial banking

U.S. BANK

Leslie Godridge has played an integral role in establishing strong market leadership for U.S. Bank in New York City and Charlotte, N.C. She built the corporate banking unit by recruiting quality talent and supporting sustainable business growth. In her previous role, she was The Bank of New York’s first female executive, senior executive and vice president in company history. Godridge was named one of American Banking Magazine’s 2017 Most Pow-erful Women in Banking. She also heads the U.S. Bank Foundation in New York City, leading the committee that analyzes grant requests and provides funding recommen-dations.

Sources: *Forbes †Financial Women’s Association

DEBORAH GRAVINESESenior vice president, TD Bank Group; head of credit risk and chief risk officer, TD Securities

TD BANK

Deborah Gravinese is respon-sible for the credit decisions for all non-retail portfolios at TD Bank and for maintain-ing a comprehensive view of risk across the company’s wholesale banking business. She is also in charge of enterprise-level credit deliverables, including risk appe-tite reviews and consolidation of credit risk materials for internal and external stakeholders. Gravinese was hon-ored as one of American Banker’s Most Powerful Women in Banking—Top Teams in 2018. A graduate of George Washington University, Gravinese began her career with Chase Manhattan Bank before holding various credit roles at both TD Securities and TD Bank Group over the past 30 years.

MARIA HACKLEYManaging director; co-head global industrials group, banking, capital markets and advisory

CITI

Since 2016, Maria Hackley has overseen a new business origination team charged with developing global relation-ships with Citi’s industrial clients. Her tenure with Citi reaches back to the early 1980s, when she was hired as an analyst with the Latin American Financial Institutions Group. Fluent in Spanish, Hackley serves on Citi’s Global Banking Diversity Steering Committee and NextGen Recruiting Steering Committee, and is a board mem-ber of Breakthrough New York, a nonprofit that ushers low-income middle school students through college. Hackley was named one of the 50 Most Powerful Latinas in Business by the Association of Latino Professionals for America in 2018.



© 2019 CIT Group Inc. All rights reserved. CIT and the CIT logo are registered trademarks of CIT Group Inc.

Navigating the way forward.Congratulations to Ellen Alemany, Denise Menelly and Marisa Harney for being selected as Notable Women in Banking and Finance by Crain’s. You’ve built a culture of integrity and inclusivity that inspires us all.

cit.com | @CITgroup

Denise M. MenellyHead of Technology & Operations

Ellen R. AlemanyChairwoman and CEO

Marisa HarneyChief Credit Officer

CN019043.indd 1 3/4/19 11:33 AM

AUDREY KAPLANHead of global equity strategy

WELLS FARGO

Audrey Kaplan leads the global equity strategy team at the Wells Fargo Investment Institute, setting investment strategy used by Wells Fargo’s investment profession-als on behalf of clients. She brings to this role 30 years of global investment industry experience, with a focus on equity research, quantitative analysis and portfolio strategy in global and domestic markets. She also serves as a member of the Rensselaer Lally Leadership Council, which provides guidance on strategic initiatives and aca-demic programs to help Rensselaer Polytechnic Institute’s Lally School of Management develop future business and technology leaders.

Women made up 26% of the board members

in banking and capital markets in 2016†

The Equal Pay Act, a labor law that prohibits

gender-based wage discrimination in the

United States, was signed by President

John F. Kennedy in 1963

MARISA HARNEYExecutive vice president and chief credit officer

CIT

Following her promotion to executive vice president and chief credit officer in 2018, Marisa Harney oversees all elements of credit policy, process, governance and model development for CIT, a financial holding company responsible for $50 billion in assets. She previously served as co-chair of the company’s Allowance for Loan and Lease Losses Committee. Prior to joining CIT, Harney was the chief risk officer at GE Capital Americas and head of corporate credit risk of the Americas for Bank of America. She holds an MBA from the New York University Stern School of Business and a bachelor’s degree in finance from Fordham University.

SUSAN HUANGVice chairman and global head, investment banking

MORGAN STANLEY

Since joining Morgan Stanley in 1984 as a financial analyst, Susan Huang has advised the firm’s largest cli-ents on mergers, acquisitions, spin-offs, divestitures and recapitalizations. Notable transactions include the sale of Mead Johnson to Reckitt Benckiser and the combination of GE’s oil and gas business with Baker Hughes. Huang serves on Morgan Stanley’s operating and management committees. She also sits on the board of directors of Lincoln Center for the Performing Arts, the board of visitors for the John Sloan Dickey Center for International Understanding and the President’s Leadership Council at her alma mater, Dartmouth College.

ANDREA KANTORSenior vice president, group head of healthcare, education & not-for-profit banking

IDB BANK

Andrea Kantor serves as se-nior vice president of Health-care, Education and Not-For-Profit Banking at IDB, managing a specialized team to deliver banking solutions for clients including schools, cultural institutions, social service agencies, hospitals and various charities. Long Island Business News named her one of its Top 50 Most Influential Businesswomen in 2006. Kantor serves on the board of trustees of the Community Synagogue and on the Long Island Imagine Awards Committee. As an early advocate for corporate social responsibility, she founded the First Team corporate volunteerism program while working at First Chicago in New York.

Source: †PwC

MICHAL KATZGlobal co-head of technology investment banking

RBC CAPITAL MARKETS

Michal Katz is co-head of the global technology investment banking group at RBC Capital Markets, where she helps leading and emerging technology companies meet their financing and strategic objectives. In addition to clients such as Cisco, Dropbox and Tesla, she works with leading venture capital and private equity firms. Katz serves on the firm’s Regional Operating Committee and helped found the Innovation Council, which strives to advance RBC Capital Markets’ global businesses with new tech-nologies and disruption-driven investments. She also serves on the leadership council of Tech:NYC, a nonprofit that supports the New York technology ecosystem.

NANCY KINGManaging director; head of global commodities division

MORGAN STANLEY

Since joining Morgan Stanley in 1986, Nancy King has amassed more than 30 years of experience in com-modities. Before being named global head of the division in 2015, she served as its chief risk officer and head of flow oil liquids. She has also served as head of U.S. coal trading and U.S. emissions, as well as chief operating officer for gas and power. In 2000, King helped form the Intercontinental Exchange, where she served as a board member from 2001 to 2003. King graduated from Duke University in 1986 with a bachelor’s in political science.

ESTHER LAINISSenior vice president, middle market banking group

CAPITAL ONE COMMERCIAL BANKING

Esther Lainis brings 20 years of experience in lending and commercial banking services to her role as senior vice president for Capital One Commercial Banking, where she focuses on the consumer products industry. Lainis began her career with Marine Midland Bank and held senior lending positions with M&T Bank, HSBC and IDB prior to joining Capital One. Since 2013, Lainis has been a member of the board of directors of the New York City-based Center Against Domestic Violence. She also serves on the steering committee for The Needlers Foundation, a philanthropic organization that contributes to children’s charities.

The third parties listed are not affi liated with Capital One and are solely responsible for their product and services. All trademarks are the property of their respective owners. Products and services are off ered by Capital One, N.A., Member FDIC. © 20 9 Capital One.

Inspiring through

action

Congratulations to our very own Esther Lainis, Senior Vice President in the Greater

New York City Market, for being named to the Crain’s New York Business list of

2019 Notable Women in Banking and Finance. On behalf of the entire Capital One®

Commercial Banking team, we are thrilled to see her accomplishments recognized.

We’re fortunate to have Esther’s leadership and vision and wish her continued

success for years to come.

capital.one/commercial

Esther Lainis

Senior Vice President

646-23 -9099

[email protected]

CN019047.indd 1 3/4/19 11:37 AMCOPY EDITOR______ COLD READER______ WRITER______ SENIOR EDITOR______ FINAL______


The third parties listed are not affi liated with Capital One and are solely responsible for their product and services. All trademarks are the property of their respective owners. Products and services are off ered by Capital One, N.A., Member FDIC. © 20 9 Capital One.

Inspiring through

action

Congratulations to our very own Esther Lainis, Senior Vice President in the Greater

New York City Market, for being named to the Crain’s New York Business list of

2019 Notable Women in Banking and Finance. On behalf of the entire Capital One®

Commercial Banking team, we are thrilled to see her accomplishments recognized.

We’re fortunate to have Esther’s leadership and vision and wish her continued

success for years to come.

capital.one/commercial

Esther Lainis

Senior Vice President

646-23 -9099

[email protected]

CN019047.indd 1 3/4/19 11:37 AM

ELIZABETH MAGENNISExecutive vice president, chief lending and relationship officer

CONNECTONE BANK

Elizabeth Magennis oversees the management, supervision and direction of ConnectOne Bank’s $4.5 billion loan port-folio. Since joining the company in 2006, she has been an integral player in ConnectOne’s growth to nearly 30 loca-tions and more than $6 billion in assets. She assisted with the bank’s initial public offering, which raised more than $50 million. Under Magennis’ leadership, the bank has also made strides into the digital space with the launch of a cloud-based loan management system. In January 2019, she joined the Manhattan Chamber of Commerce’s board of directors.

ELLEN MARSHALLExecutive vice president, region head, New York and New Jersey, commercial banking

SANTANDER

Ellen Marshall has built a 30-year career in commercial banking, starting immediately after she received her finance degree from Lehigh University. She has held roles with CIT Group, Capital One and Sovereign Bank, before the company’s merger with Santander. As the newly ap-pointed regional head of middle marketing banking for Santander, Marshall’s responsibilities include managing the commercial banking business in Manhattan, Long Island and New Jersey. She is an active member of her community and currently sits on the board of directors of the New Jersey Performing Arts Center in Newark, N.J.

JANICE LIUFirst vice president, New York regional manager

EAST WEST BANK

Janice Liu leads a team of more than 60 people in East West Bank’s New York City branch networks as they provide business and consumer banking services to local communities. She also works with Chinese investors on overseas financial needs such as financing for real estate projects. With 16 years of industry experience, Liu specializes in bridge banking financial services, including onshore and offshore banking, international settlement, pledge of domestic financing and cash management ser-vices. Before joining East West Bank, Liu worked as a vice president and senior branch manager at HSBC.

In North America, women account for more than half the entry-level workforce in financial

services*

Research covering more than 90,000 companies in 35 countries shows a clear link between the level of female board

representation and market performance†

Sources: *McKinsey †PwC

ALISON MASSGlobal head of financial and strategic investors group

GOLDMAN SACHS

In 2001, Alison Mass joined Goldman Sachs as a partner. Today, she serves as global head of the Financial and Strategic Investors Group in the Investment Banking Division. In addition, she serves as a member of the Management Com-mittee, the IBD Executive Committee and the Firmwide Client and Business Standards Committee. Mass oversees the firm’s Launch with GS initiative, which invests both the firm’s and clients’ capital solely in women-founded, women-owned or women-led companies. Mass also serves as chair of the board of overseers at New York University’s Stern School of Business.

DORIS MEISTERExecutive vice president, wealth and institutional services division

WILMINGTON TRUST/ M&T BANK

Doris Meister has worked in financial services and exec-utive management for more than three decades. In her current role as executive vice president of M&T Bank’s Wealth and Institutional Services Division, she oversees M&T Securities, Wilmington Trust Wealth Management and Wilmington Trust Advisors. She also serves on M&T’s Management Committee. Prior to joining M&T, Meister worked in the financial institutions practice group at McKinsey & Co., and served as president of U.S. markets at BNY Mellon. She is an adviser to the One Love Foun-dation, a charitable organization focused on ending relationship abuse.

DENISE MENELLYExecutive vice president and head of technology and operations

CIT

As executive vice president and head of technology and operations for CIT, Denise Menelly works with CIT’s stakeholders to drive growth through technologies while promoting a strategic vision for streamlined operations. She also oversees CIT’s information security strategy. Menelly has long championed women in business, both as an executive board member of the National Center for Women in Information Technology and by serving on the organizing committee for the Technical Executive Forum. Both organizations work to increase representation of women in technology. She has also served as an ambas-sador with Vital Voices, providing mentorship to women leaders in developing countries.

MELISSA MELVINManaging director, treasury

ALLY FINANCIAL

In her 10 years as manag-ing director, treasury at Ally Financial, Melissa Melvin has been responsible for the firm’s middle-office and operations team. She has also support-ed the firm’s growing treasury and capital markets efforts across multiple business functions. Melvin is a senior leader in Ally’s New York office and a member of the Trea-sury Executive Counsel. Melvin also serves as a member of the leadership council for Ally’s Women Employee Resource Group, promoting a more diverse and inclusive workplace through education, development and targeted talent acquisition.

Wilmington Trust and M&T Bank congratulate Doris P. Meister, head of our Wealth Management businesses, for being

named one of Crain’s Notable Women in Banking and Finance—an elite sisterhood of those who have been recognized

for their professional, civic, and philanthropic achievements. We applaud all the honorees, and Doris in particular for

her deeper understanding of the importance of gender equality, diversity, and mentorship, and the need to maintain

a culture of excellence in the workplace.

LEADERSHIPis worthy of recognition.

Strong

Crain’s Notable Women in Banking and Finance Ad

Publication Trim Size: 10.875” x 14.5” (keep live matter 0.375 away from edge)

Publication Bleed Size: 11.125” x 14.75” (all full page ads should be centered on thissize)

wilmingtontrust.com©2019 Wilmington Trust Corporation and its affiliates. All rights reserved. 19668 VF 190301

CN019042.indd 1 3/4/19 11:32 AMCOPY EDITOR______ COLD READER______ WRITER______ SENIOR EDITOR______ FINAL______


Wilmington Trust and M&T Bank congratulate Doris P. Meister, head of our Wealth Management businesses, for being

named one of Crain’s Notable Women in Banking and Finance—an elite sisterhood of those who have been recognized

for their professional, civic, and philanthropic achievements. We applaud all the honorees, and Doris in particular for

her deeper understanding of the importance of gender equality, diversity, and mentorship, and the need to maintain

a culture of excellence in the workplace.

LEADERSHIPis worthy of recognition.

Strong

Crain’s Notable Women in Banking and Finance Ad

Publication Trim Size: 10.875” x 14.5” (keep live matter 0.375 away from edge)

Publication Bleed Size: 11.125” x 14.75” (all full page ads should be centered on thissize)

wilmingtontrust.com©2019 Wilmington Trust Corporation and its affiliates. All rights reserved. 19668 VF 190301

CN019042.indd 1 3/4/19 11:32 AM

IDB Bank congratulates Lissa Baum and Andrea Kantor

IDB has been awarded a 5-Star rating by Bauer Financial and an A– rating by Kroll Bond Rating Agency. IDB Bank® is a registered service mark of Israel Discount Bank of New York. Member FDIC.

We are proud and thankful to have such strong and successful female leadership on our team. It is only with their insights and experience that we are able to serve our clients to the standards that IDB Bank is known for.

At IDB Bank, we like to say “It’s Personal” and that extends beyond our customers – to the successes and accomplishments of our employees.

For 70 years, IDB Bank has been helping both private and business clients achieve their financial goals through our fervent commitment to 5-star service.

www.idbny.com

IDB146_2019_Crains_Ad_v2.indd 1 2/21/19 10:45 AM

on making Crain’s Notable Womenin Banking and Finance list!

Untitled-7 1 2/22/19 5:15 PM

Diverse boards have lower volatility, better

performance and invest more in research and

development*

ANNELIESE SEELAUS MITNICKChief executive officer

R. SEELAUS & CO. INC.

Before she joined R. Seelaus & Co. in 2009, Annie Seelaus Mitnick spent nine years gaining corporate bond and emerging markets sales and trading experience working for HSBC in London and New York. She became the com-pany’s CEO in 2015, and currently leads its institutional sales and trading efforts. Mitnick’s strong commitment to supporting women in the financial services community begins with her own firm, which she uses as a platform to help women reenter the financial workforce after a career break. She also actively supports community organiza-tions that empower women in finance.

JULIE MONACOManaging director; global head of public sector, banking, capital markets and advisory

CITI

Julie Monaco is an industry thought leader on anticorrup-tion and compliance issues, leading Citi to become the first financial institution invited to join the World Eco-nomic Forum’s Partnership Against Corruption Initiative. Monaco has been named to American Banker’s list of 25 Most Powerful Women in Banking and Finance eight times, and she sits on the board of Citi Canada. She also serves on the Corporate and Investment Bank’s Diversity Committee. She is an active member of the Citi Women’s Network and the Citi Salutes Veterans Network, a U.S.-based program that supports military veterans as they transition to private-sector employment.

“If you look at what this country accomplished only using half its talent, just

think of the potential for the future... we, by some rather stupid decision, essentially

put half of our talent on the sidelines”

Warren Buffett, CEO, Berkshire Hathaway

Source: *Catalyst

MICHELLE NEALChief executive officer

BNY MELLON MARKETS

As CEO of BNY Mellon Mar-kets, Michelle Neal leads the firm’s global trading, funding and liquidity businesses. She is responsible for setting the strategic course for Markets, and has established a strong record of driving annual compound growth. In this role, she has helped raise BNY Mellon’s profile from that of a custody bank to a com-prehensive financial services provider. In both 2017 and 2018, American Banker named her to its list of the Most Powerful Women in Finance. In 2018, Global Custodian nominated her for its Industry Person of the Year Award.

SANDIE O’CONNORManaging director and chief regulatory affairs officer

JPMORGAN CHASE

Sandie O’Connor joined JPMorgan in 1988 and now sets JPMorgan Chase’s com-prehensive regulatory strategy in her role as chief regulatory affairs officer and manag-ing director. She also maintains relationships with G-20 international standard-setters and policymakers involved with evolving regulations and new laws. O’Connor serves on several industry association boards and chairs the Federal Reserve’s Alternative Reference Rates Committee, which is tasked with determining an alternative rate to LIBOR. Her community involvement includes serving as vice chair of the board of the YMCA of Greater New York.

SHELLEY O’CONNORManaging director and co-head of wealth management

MORGAN STANLEY

Shelley O’Connor has spent more than 30 years with Morgan Stanley, serving in a series of senior leadership positions. Today, in addition to her roles as managing director and co-head of Morgan Stanley Wealth Manage-ment, O’Connor chairs Morgan Stanley Private Bank and serves as a member of the bank’s operating committee. Before joining Wealth Management leadership, O’Connor led the division’s Southwest Region branch offices. She serves on boards at the Securities Industry and Financial Markets Association, as well as MAKERS and Catalyst, which support advancing women in the workplace.

CARIN LEONG PAIExecutive vice president and director of equity management

FIDUCIARY TRUST INTERNATIONAL

As head of Fiduciary Trust’s Equity Strategy Committee, Carin Leong Pai oversees the firm’s equity portfolio manag-ers, guiding the team’s strategy and process. She has man-aged client portfolios and helped develop strategic asset allocations for more than 20 years. In 2016, she received the New York Business Journal’s Women of Influence award. That same year, she also received Money Management Executive’s Top Women in Asset Management award. Today, Pai serves on the board of trustees of the Citizens Budget Commission, an organization working toward constructive change for New York’s government services and finances.

RAQUEL PALMERCo-managing partner

KPS CAPITAL PARTNERS

Raquel Palmer has been with KPS Capital Partners for just shy of 25 years. Along with her partners, Palmer specializes in transforming existing businesses into world-class, industry-leading enterprises. Palmer sits on the boards of directors of several corporations, including TaylorMade Golf and Chassis Brakes International Group. She also serves as chair for both DexKo Global and International Equipment Solutions. A graduate of Stanford Universi-ty, Palmer was honored as one of the Most Influential Women in Mid-Market M&A by Mergers & Acquisitions and among Buyouts Magazine’s 10 Women Smashing PE’s Glass Ceiling.



IDB Bank congratulates Lissa Baum and Andrea Kantor

IDB has been awarded a 5-Star rating by Bauer Financial and an A– rating by Kroll Bond Rating Agency. IDB Bank® is a registered service mark of Israel Discount Bank of New York. Member FDIC.

We are proud and thankful to have such strong and successful female leadership on our team. It is only with their insights and experience that we are able to serve our clients to the standards that IDB Bank is known for.

At IDB Bank, we like to say “It’s Personal” and that extends beyond our customers – to the successes and accomplishments of our employees.

For 70 years, IDB Bank has been helping both private and business clients achieve their financial goals through our fervent commitment to 5-star service.

www.idbny.com

IDB146_2019_Crains_Ad_v2.indd 1 2/21/19 10:45 AM

on making Crain’s Notable Womenin Banking and Finance list!

Untitled-7 1 2/22/19 5:15 PM

ABBY PARSONNETRegional president, metro New York

WEBSTER BANK

When Abby Parsonnet joined Webster Bank in 2013, she spearheaded the successful expansion of middle-market banking and community affairs in the New York metropolitan area. She now serves as regional president for metro New York and head of the bank’s Sales Council. In addition to her work at Webster, Parsonnet is a board member, officer and founder of Delivering Good, a charity that helps supply apparel, home furnishings and other products to people affected by poverty and disaster. She received the Community Achievement Award from ORT America’s Accounting, Banking and Attorneys Chapter.

Women now make up nearly 40% of business school graduates. MERCER

Recognized by Crain’s as 2019 Notable Women in Banking & Finance

Carolyn Finer Senior Investment Strategist, Managing Director

City National

Congratulations to City National’s Carolyn Finer

The way up®

for the New York business community.

City National Bank Member FDIC. City National Bank is a subsidiary of Royal Bank of Canada. ©2019 City National Bank. All Rights Reserved. cnb.com 7275.49

Untitled-4 1 3/4/19 11:38 AM

TINA CHAN REICHChief data scientist and chief risk officer

CREDIBLY

Tina Chan Reich brings a wealth of experience as a strategy and analytics man-ager, with a specialty in risk management and consumer and business insights, to her role as chief data scientist and chief risk officer of Credibly. She has a deep technical background and a track record of building award-win-ning analytical teams. Prior to her work at Credibly, Reich headed the data science, marketing analytics and risk divisions at institutions including JPMorgan Chase, Citigroup and American Express. She has also served on the board of directors for the Small Business Financial Exchange and Citicorp Payment Services.

DIANE REYESGroup general manager, global head of liquidity and cash management

HSBC

Diane Reyes became group general manager at HSBC in February 2015 and has been the global head of liquidi-ty and cash management since 2011. She manages a multi-billion-dollar business operating across five regions and oversees more than 80 products and services offered to large and middle-market companies, financial institutions and governmental or-ganizations. In addition to sponsoring diversity programs at HSBC, Reyes has served on the board of the Grace Institute, which offers training to economically disadvan-taged women, and as treasurer of the New York Race for the Cure, an affiliate of the Susan G. Komen Breast Cancer Foundation.


First Lady Abigail Adams is one of the earliest documented investors. She managed the family finances and invested in U.S. government bonds. BUSINESS INSIDER

The Webster symbol is a registered trademark in the U.S. Webster Bank, N.A. Member FDIC. Equal Housing Lender ©2019 Webster Financial Corporation. All rights reserved.

Abby Parsonnet,

Regional President, Metro New York

Webster Bank

When leaders take charge, people take note.

Congratulations to the nominees for Crain’s 2nd annual list of Notable Women in Banking and Finance.

We’re proud that Abby Parsonnet is among you.

Since 2013, she’s led the team that has grown

our middle market business in Metro New York.

She’s also a leader in diversity and inclusion as

a founding member of WeWin: the Webster

Women’s Initiative. Abby represents the

sophisticated problem-solving and can-do spirit

that makes clients turn to Webster Bank.

JOSEPHINE SAVASTANORegional president of New York and New Jersey C&I lending

VALLEY

Since joining Valley in May 2018, Josephine Savastano has already been promoted to regional president overseeing commercial and industrial lending for the bank’s New York and New Jersey business. Savastano’s previous work experience includes five years as a team leader at Wells Fargo’s New York Commercial Bank and leadership positions at other financial insti-tutions. She also served on the board of directors for the Staten Island Economic Development Corp., the Long Island City Partnership and the Staten Island Chamber of Commerce. The New York Business Journal named Savas-tano an honoree for its 2016 class of Women of Influence.

LUVLEEN SIDHUCo-founder, president and chief strategy officer

BANKMOBILE

Luvleen Sidhu strives to provide millennials and middle-income Americans with affordable digital bank-ing. She also founded the BankMobile Foundation, which funds budding entrepre-neurs and organizations that promote financial literacy. In addition to mentoring fintech startups through the Techstars accelerator program, Sidhu supports several social impact projects, including establishing computer centers in India to educate rural women, and organizing and sponsoring medical camps in underprivileged areas in Punjab. In 2018, she received StrtupBoost’s 33 Under 33 Award and CEO Connection named her one of its Most Influential Women of the Mid-Market.

ELENA SISTIFounder, chairperson emeritus and member of board of directors

SAVOY BANK

Elena Sisti became only the second female bank founder in New York City when she launched Savoy Bank in 2008. Now chairperson emeritus, Sisti sits on the bank’s board of directors, as well as its credit, asset-liability and audit committees. Prior to founding Savoy Bank, she spent 25 years with Citibank, where she served as director of strategic planning and head of an initiative to re-engineer the bank’s branch network. Sisti serves her community as the treasurer and a board member of the Washington Heights/Inwood Development Corp., which helps entrepreneurs start new businesses in northern Manhattan.


DENISE SMYTHSenior vice president

PNC REAL ESTATE

As a senior vice president with PNC Real Estate, Denise Smyth is responsible for developing and manag-ing commercial real estate finance relationships. Her client portfolio includes real estate investment trusts and private developers in the New York metro area. Smyth is engaged in several initiatives dedicated to mentoring and furthering diversity at PNC. She is also involved with a number of organizations outside the firm, including the Real Estate Lenders Association, Commercial Real Estate Finance Council Women’s Network, the Real Estate Net-working Trust and New York Women Executives in Real Estate, where she serves on the scholarship committee.

With a remaining gender gap (referring to health, education, economy and politics) of 28%, on average, North America is one of the world’s regions that have made the

most progress toward gender parity overall. WEFORUM

Member FDIC. ©2019 U.S. Bank.

Congratulations to Christine Waldron, a 2019 Notable Woman in Banking

and Finance! In her role as chief global strategy officer at U.S. Bank,

Christine leads key business initiatives with commitment and clear vision.

Her inspiring leadership and impressive industry knowledge help pave the

way for growth and continuous improvement at U.S. Bank.

Applaudingleaders with vision

Christine Waldron

Senior Vice President,

Chief Global Strategy Officer,

U.S. Bank Global Fund Services

MAGDA SOUFFRONTVice president, marketing manager

SAVOY BANK

Magda Souffront helped found Savoy Bank in 2008 and currently serves as its vice president and marketing manager. A native of the Dominican Republic, Souf-front moved to New York as a teenager with her family. She spent 32 years at Citibank, where she started as an account officer and climbed her way to vice president in charge of branches. She left the firm in 2005 to help establish Savoy Bank, a community financial institution that focuses on local small businesses, particularly those owned by underserved members of the community. She previously served on the board of the Washington Heights and Inwood Development Corporation.

EMILY STODDARDMiddle market team lead—New York City

TD BANK

Emily Stoddard focuses on growing TD Bank’s loan portfolio. She began her TD career as a customer service representative. Now a senior leader, she’s passionate about promoting women in leadership and co-sponsors a development program for top female talent in TD’s commercial bank. She is also a member of the Metro New York Regional Diversity Council, co-leads the Metro New York Women in Leadership Business Resource Group and serves on the boards of both the Boys and Girls Club of North Westchester and WHOW (Women Helping Other Women).


Among the S&P 500 companies, nearly 45% of employees are women. CNN

ANNE WALKERMarket president, New York City

BANK OF AMERICA

As Bank of America’s mar-ket president for New York City, Anne Walker connects businesses and individuals with banking and investment services. She also serves as the chief operating officer for the CFO Group, where she works to streamline operations and enhance productivity, driving future growth and providing better services for clients. Walker has advocated for diversity within the field throughout her 20-plus years at Bank of America, serving on the bank’s Global Diversity & Inclusion Council. Today, she oversees the deployment of Bank of America’s resources to help address social and economic concerns and strengthen communities.

CHRISTINE WALDRONSenior vice president, chief global strategy officer

U.S. BANK GLOBAL FUND SERVICES

As chief global strategy officer, Christine Waldron executes key business initiatives for U.S. Bank’s Global Fund Services unit. Her responsibilities range from strategy planning and implementation to product development, business integra-tion and technology development. She also oversees U.S. Bank’s registered fund transfer agency operations. In addi-tion to her work in finance, Waldron supports educational causes. She serves on boards for the Wisconsin Center for Gifted Learners and the Student Partner Alliance of New Jersey, which provides mentoring and tuition assistance to high-school students at private schools in urban areas of the state.

YAEL WEINSTOCK- SHEMESHDivision executive, Israeli business and hi-tech groups

BHI

Yael Weinstock-Shemesh joined BHI, the U.S. division of Bank Hapoalim, in 2012. Since then, she has helped establish and oversee the Israeli Business Group, helping Israeli middle-market companies expand their operations within the United States. She also established BHI-Tech, a specialized team focused on startups and technology companies operating within the U.S. Weinstock-Shemesh is a board member of the Israeli-American Council and previously served on the programming board of the Israe-li Business Forum of New York. She has also served as a lieutenant in the Israeli Defense Force.

Congratulations Yael!We are proud of Yael Weinstock-Shemesh, Division Executive – Israeli Business & Hi-Tech Groups, on being recognized as one of Crain’s Notable Women in Banking!

At BHI we are committed to providing expertise and personal attention to help our customers succeed. Yael, thank you for your dedication, leadership, and for exemplifying excellence in all that you do for our customers and BHI.

www.bhiusa.com

BHI is a registered service mark of Bank Hapoalim B.M. Member FDIC. Deposit accounts offered by the New York Branch are fully insured by the FDIC to the maximum extent permitted by law. Deposit accounts offered by the Americas Tower Branch and Plaza Branch are not FDIC insured.

Untitled-2 1 3/4/19 11:34 AM


How women in finance find

ways to give back

When Maria Grasso was a young girl, she and her siblings went door to door with their mother to collect money for the March of Dimes, which works to improve the health of mothers and babies.

“We were always raised to give back to the community,” Grasso said.

When her own children were young, Grasso took them to volunteer, even as she managed a busy career in finance. Together, they worked in food banks, and her kids became involved with United Way of Long Island’s Stuff-A-Bus program, which collects school supplies for underprivileged children.

Her children are grown now, but Grasso, the senior execu-tive vice president and chief operating officer at Flushing Bank in New York City, continues to give back. She chairs the United Way of Long Island’s board of directors, the first woman to do so, and serves as a member of the national board of the American Kidney Fund.

Grasso’s story echoes those of many women in finance who have a deep history of giving back to their communi-ties while juggling their families and careers. Their work-place skills put female financial executives in a unique position to help charitable organizations and to devote time within their firms to helping female colleagues suc-ceed. What’s more, as they serve their communities, they lead by example, encouraging a new community-minded generation to join the industry and to start giving back themselves.

Juggling responsibilitiesFemale leaders in finance fre-quently wear many hats, balanc-ing a full workload and a home-life. These women, accustomed to multitasking, carve time out of their busy schedules to make giving back a priority.

“I think anyone who has a career or family always feels the need to juggle commitments and priori-ties,” said Diane Reyes, group gen-eral manager and global head of global liquidity and cash manage-ment at HSBC. “You have to figure out what works for you, and what trade-offs you are willing to make, to find time to give back.”

Like Grasso, many executives multitask by involving family members in their charitable activities. When Reyes was treasurer for the Susan G. Komen New York Race for the Cure, which raises money to help prevent and cure breast cancer, her husband and children often joined her to walk or run in the organization’s races.

Leveraging skills and connectionsOutside of the office, executives find ways to draw on their financial skills and workplace connections to help nonprofits succeed.

“What makes you successful in your day job is really powerful when you apply it to organizations that are

doing great work,” said Anne Clarke Wolff, head of global corporate banking and global leasing at Bank of America Merrill Lynch. “It’s about taking your job skills and apply-ing them in a different setting.”

Wolff sits on the board of the Brooklyn Historical Society. She’s also the acting treasurer at the Public Theater, which provides Shakespeare in the Park’s free outdoor performances in Central Park. She helps each organization consider how to achieve long-term financial stability and via-bility, raise funds and build an endowment.

Like many corporations, financial services firms are eager to support communi-ty organizations, and skilled volunteers can help create those connections.

For instance, Wolff helped bring Bank of America in as a partner at the Brooklyn Historical Society. Thanks to her efforts, the bank sponsors “History Makers,” a lecture series in which luminaries discuss important historical figures. At one recent event, Yale historian David Blight and Columbia University’s Andrew Delbanco sat down to discuss Frederick Douglass.

On a more practical level, Bank of America has become the organization’s banking partner, providing advice and financial support.

Boosting other womenMany successful female leaders donate their time to give other women a leg up. These executives are well-positioned to under-stand the challenges women face in the workplace. They use their experience to help other women enter the workforce and get promoted into more senior positions.

Reyes has worked with women on both ends of this spectrum. She sits on the board of the Grace Institute, which offers support and training to low-income women in the New York City area, helping them achieve employ-ment and economic self-suf-ficiency through job training,

counseling and placement services.

At her own workplace, Reyes prepares women for promo-tion. “I have an interest in helping women advance in the workforce, and if I can contribute where I’m employed, it’s not only easier but makes my time here more mean-ingful,” she said.

As a sponsor of HSBC’s Accelerating into Leadership pro-gram, which helps develop the bank’s female leadership pipeline, Reyes helps women co-workers develop soft skills—such as strong communication habits—to help them take the next step and get promoted into senior positions.

“I volunteered immediately for Accelerating into Lead-ership because that’s a real feeder system for women to get to the next level of seniority inside the bank,” she said. “These are women who have strong educational

backgrounds and are good subject-matter experts but may not know the best ways to promote themselves.”

Reyes also participates in Accelerating Female Lead-ership, an HSBC mentor-ship program that supports high-performing women through networking events, coaching and skill-building.

A culture of giving that inspires a new generation The process of juggling careers, family and volun-teer activities gives female

leaders unique insight into what their firms and indus-tries can do to make giving back a priority. Those efforts inform their interactions with both their employers and the next generation of community-minded employees.

“Giving back feeds the souls of employees, and charitable organizations are without a doubt benefiting from the skills we bring to bear, helping them survive and thrive,” Wolff said. “The more the industry can connect organiza-tions doing great work with young executives who want to give back, the better.”

In fact, Bank of America connected Wolff with the Public Theater after she expressed interest in community in-volvement.

“If I have the power to do this kind of work through and with Bank of America, it makes me more excited to con-tinue working with them,” she said.

As Wolff’s experience demonstrates, a culture of giving back can become a powerful recruiting tool and a way to retain top talent. Millennials in particular seek the flexibility to manage their own time so they can achieve personal aspirations, such as becoming involved in their communities, Reyes says.

That makes opportunities to play a role in a variety of nonprofits a huge competitive advantage for firms willing to offer them. Meanwhile, female executives can set an example of volunteerism and mentorship, thereby usher-ing in a new generation of givers.

Women in leadership positions can and should lead by example when it comes to nonprofit work, Grasso says. “In a big organization, you can be a role model and show fellow employees how to get out and volunteer them-selves,” she said. “We’re a community. When you set an example, it’s kind of contagious and people want to be involved.”

Ultimately a strong culture of giving back creates a rich exchange among women, financial firms and nonprofits.

“When I talk with women colleagues, I do think that we feel fortunate to have achieved everything we have,” Wolff said. “As a result, we feel the need to give back in a variety of ways while learning and growing ourselves.”

Making a difference

“Giving back feeds the souls of employees, and charitable organizations are without a doubt benefiting from the skills we bring to bear, helping them survive and thrive.”

Anne Clarke Wolff Bank Of America Merrill Lynch



rbccm.comThis advertisement is for informational purposes only. RBC Capital Markets is the global brand name for the capital markets business of Royal Bank of Canada and its affi liates, including RBC Capital Markets, LLC (member FINRA, NYSE and SIPC). ®/™ Trademark(s) of Royal Bank of Canada. Used under license. © Copyright 2019. All rights reserved.

Congratulations to Lori Calvasina and Michal KatzAt RBC Capital Markets, we are dedicated to buildingthe strongest team to support our clients’ goals. We congratulate Lori Calvasina, Head of US Equity Strategy, and Michal Katz, Global Co-Head of Technology Investment Banking, on being named among Crain’s Notable Women in Banking and Finance in NYC. Congratulations to the other recipients and all women who move our industry forward every day.

CN019040.indd 1 3/6/19 9:57 AM

rbccm.comThis advertisement is for informational purposes only. RBC Capital Markets is the global brand name for the capital markets business of Royal Bank of Canada and its affi liates, including RBC Capital Markets, LLC (member FINRA, NYSE and SIPC). ®/™ Trademark(s) of Royal Bank of Canada. Used under license. © Copyright 2019. All rights reserved.

Congratulations to Lori Calvasina and Michal KatzAt RBC Capital Markets, we are dedicated to buildingthe strongest team to support our clients’ goals. We congratulate Lori Calvasina, Head of US Equity Strategy, and Michal Katz, Global Co-Head of Technology Investment Banking, on being named among Crain’s Notable Women in Banking and Finance in NYC. Congratulations to the other recipients and all women who move our industry forward every day.

CN019040.indd 1 3/6/19 9:57 AM

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