The industry of handling money and helping consumers and businesses to conduct monetary transactions has been experiencing dramatic change. Technology, regulatory measures, and customer demands for better experiences all play a role in pressuring the money industry to transform. Incredible people are leading the disruptive charge to revamp the money industry for current and future needs, challenges, and expectations.
One of the most important changes happening in the money industry is more about the type of talent that is stepping into leadership roles to drive this transformative change — and that’s women. Let’s take a look at some of the incredible women who are changing the face of the money industry:
1. Abigail Johnson
Abigail Johnson is the Chief Executive Officer of Fidelity Investments and considered one of the most powerful women in finance and the granddaughter of the company’s founder. In her role, she has proved it is possible to make significant changes that help a financial institution remain relevant to new generations of investors.
Dramatic changes include adding more affordable fund options for younger demographics to grow Fidelity’s customer base. Another bold move involved hiring more female talent within branches and redesigning these branches to be more appealing to female customers.
2. Alice Hocking
Alice Hocking is the Head of the TIAA Financial Solutions Client Services (TFS CS) team, joining the firm in 2015. TFS CS is the firm’s “service delivery hub,” delivering an efficient, market-competitive, end-to-end service experience to individual and institutional clients.
Prior to TIAA, Alice worked at Transamerica for more than 30 years in different roles, including leadership positions in not-for-profit client transitions, operations, and the phone center. She was part of the team that launched Diversified Investment Advisors and later became the Chief Operating Officer of that division. In her final role at Transamerica, Alice served as the Chief Operating Officer of Investments & Retirements.
3. Peggy Mangot
Peggy Mangot is the Senior Vice President and head of Greenhouse development in the Innovation Group at Wells Fargo WFC . The Innovation Group is an enterprise-wide organization devoted to accelerating the company’s delivery of next-generation, customer-inspired technologies, products, and services.
Peggy began her career with Wells Fargo in 2016 as an innovation thought leader, driving two game-changing initiatives, including Greenhouse, Wells Fargo’s mobile-first banking experience, and a new identity management platform. Before joining Wells Fargo, Peggy was the Founder and CEO of SparkGift, a Y-Combinator-backed micro-investing platform that made it easy to give and receive investment gifts at scale. Peggy also previously led Google GOOGL ’s Payments & Commerce Partnership team, launching new products and helping scale mobile payments. During her career, she has also held senior roles at Visa, Allianz, Accenture ACN , PwC and the Federal Reserve Bank of Chicago.
4 . Andrea Zaretsky
Andrea Zaretsky is Chief Marketing Officer for E*TRADE Financial Corporation ETFC . She defines and drives E*TRADE’s brand and marketing efforts across all retail channels. Andrea leverages her extensive background in developing innovative business strategies to drive customer acquisition, loyalty, and engagement at iconic brands in both the financial services and retail industries.
Previously, she served as Senior Vice President of Marketing at SEPHORA where she led key Client Engagement functions. In this role, Andrea also developed and launched the company’s first credit card portfolio. Prior to this role, she served as Senior Vice President of Marketing at Toys ‘R Us. She began her career at American Express AXP , rising through the ranks to serve as the Vice President and Head of US Customer Marketing where she led the acquisition, engagement, innovation, and investment optimization process. .
5. Carol Juel
Carol Juel is the Executive Vice President & Chief Information Officer at Synchrony. First and foremost, she is an amazing leader, working to transform the money industry.
However, Carol is also a huge advocate for encouraging more women and young girls to become forces in the tech and finance industries.
6. Sara Breyfogle
Sara Breyfogle is the Chief Credit Officer for Discover Card and Senior Vice President, Analytics & Credit Strategy at Discover Financial Services DFS . She is helping Discover to find new ways to leverage artificial intelligence and machine learning as part of credit lending decisions. Sara is also working with new technologies to help create recession-proof organizations.
She is a strong advocate for women in tech and finance, including serving as a mentor to inspire more women and girls to enter these industries.
7. Karen Larrimer
Karen Larrimer is Chief Executive Officer of Retail Banking and Chief Customer Officer at PNC Financial Services Group PNC . In driving change at PNC, she helped take the retail bank from a regional player to a national retail bank. PNC now has customers in every state while continuing to add to their deposit base through a digital high-yield savings product also developed under Karen’s leadership.
Following the company’s digital launch, Karen and her team have launched an ultra-thin branch network because PNC still believes in the value of human interface for customers. She sees the winners in the money industry as the ones that figure out the balance between physical and digital channels.
8. Thasunda Duckett
Thasunda Duckett is the Chief Executive Officer of Chase Consumer Banking at JPMorgan Chase JPM . Rising from poverty into the head of a powerful, well-known financial service, Thasunda has parlayed that experience and transition into reshaping the money industry.
Despite being the top executive at Chase Consumer Banking, she makes herself accessible to the media, employees, and customers by being involved in events, branch openings, and branch visits. Her focus has been to bring more branches and money literacy to low-income communities, areas that Chase previously had not entered. Thasunda is not only interested in helping women improve their financial position, but she also wants to ensure that women of color also have the same opportunities.
9. Ernie Johannson
Ernie Johannson is the Group Head, North American Personal Banking and U.S. Business Banking for BMO Financial. Her focus is on closing the gap between women and money as well as between women and opportunities in the financial services industry.
Ernie believes she can use her position to help more women become effective money managers and serve as financial role models for their daughters. She also has made proactive changes to her leadership team mix, ensuring that women make up half of her senior leadership team.
10. Nandita Bakhshi
Nandita Bakhshi is President and Chief Executive Officer of Bank of the West. She has made her mark by addressing how a powerful financial institution can take a stand on the environment and social issues without compromising its profitability.
In this role since 2016, Nandita has made changes like no longer financing any company associated with tobacco while choosing to back numerous other “green” organizations. Prior to leading Bank of the West, she served in executive roles at TD Bank and Washington Mutual where her career spanned more than three decades.
11. Melissa Alvarado
Melissa Alvarado is the Chief Marketing Officer for Chime. She is responsible for leading the marketing, growth and analytics strategies at Chime. Melissa and her team have helped millions of Americans avoid bank fees and achieve financial peace of mind, an area which she is particularly passionate about.
Whether for Chime members, her team or herself, Melissa encourages all to tackle challenges head-on. Melissa is an accomplished IRONMAN triathlete and has completed five full IRONMAN triathlons, as well as 10 marathons around the world.
12. Hannah Grove
Hannah Grove is an Executive Vice President and Chief Marketing Officer for State Street Corporation. In this role, she has proven that it helps to have a creative approach to marketing in the money industry, leveraging digital, social, and analytics initiatives.
The result of her efforts has increased diversity throughout the global financial services organization while reducing overhead costs. Hannah’s involvement in strategic planning, including acquisitions and expansion planning, has helped further State Street’s position and enhanced its brand reputation on a global scale.
More to Come
This list of women in the midst of changing the money industry is by no means complete. Already, there are other female executives throughout the world of money, disrupting traditional processes and directing the future of traditional and online banks, investment firms, and financial services companies.