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Tag Archives: Karen Peetz

As the Great Recession lumbers on, and Wall Street circles the proverbial wagons to counter a growing grass-roots protest movement against the global financial sector, a diminishing segment of its industry peered cautiously toward its future this month — and crowned a new queen in the process.

The Bank of New York Mellon

Karen Peetz, Vice Chairman of Bank New York Mellon, ascended from bridesmaid to bride at American Banker magazine’s annual Most Powerful Women In Banking awards ceremony, held at the Waldorf Astoria in New York City. Peetz assumed the top spot in 2011 after placing third in last year’s ranking.

Peetz’s bona fides are nothing to sneeze at. In the wake of the initial financial market crises of Autumn 2008, a do-or-die moment for many a tenured veteran of the Street, Peetz headed up the operations division within her bank that won the coveted bid to run the federal government’s massive Troubled Asset Relief Program, charged with stabilizing the shaken financial industry. Her leadership tactics proved effective enough to land BNY Mellon an even greater share of responsibility in the aftermath of the crises — both in the United States and abroad.

Prior to 2008, Peetz engineered a major operations swap between BNY Mellon and JPMorgan, which had served to firmly place her on her industry’s radar of up-and-coming executive talent.

With the numbers of women chief executives on the decline in the financial industry, the recognition of Karen Peetz as the top woman in the banking sector illustrates that the representation of her gender in her industry may be down, but it’s certainly not out.

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