Crain's 2019 Notable Women in Banking & Finance

Women claim their place in finance INDEX OF HONOREES

PAGES 24-25 PAGE 28 PAGE 32 PAGE 36 PAGES 40-41 Ellen Alemany Stephanie Cohen Marisa Harney Anneliese Seelaus Mitnick Denise Smyth Barbara Desoer Susan Cullen Susan Huang Julie Monaco Magda Souffront Mary Callahan Erdoes Dafna Dothan Andrea Kantor Michelle Neal Emily Stoddard Adena Friedman Hafize Gaye Erkan Audrey Kaplan Sandie O’Connor Christine Waldron Sallie Krawcheck Laura Fazio Michal Katz Shelley O’Connor Anne Walker Marianne Lake Carolyn Finer Nancy King Carin Leong Pai Yael Weinstock-Shemesh Barbara Novick Aleida Frederico Esther Lainis Raquel Palmer Ellie Wheeler Anne Clarke Wolff PAGE 30 PAGE 34 PAGES 38-39 Sharon French Janice Liu Abby Parsonnet PAGE 26 Claudine Gallagher Elizabeth Magennis Tina Chan Reich Karen Altfest Lorraine George-Harik Ellen Marshall Diane Reyes Alexandra Barth Leslie Godridge Alison Mass Josephine Savastano Fiona Bassett Maria Grasso Doris Meister Luvleen Sidhu Lissa Baum Deborah Gravinese Melissa Melvin Elena Sisti Katia Bouazza Maria Hackley Denise Menelly Lori Calvasina

We congratulate Carin Pai and all of 2019’s Notable Women, for their notable achievements and dedication to the New York City community.

More than 85 Years of Truly Personalized Wealth Management.

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22 Women claim their place in finance 24 Profiles of the 2019 Notable Women in 42 Banking & Making a Finance difference How women in finance find ways to give back

Personal and Exceptional.

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

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©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

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______KPS Capital partners, lp INDEX OF ADVERTISERS

P. 18 Fiduciary Trust International P. 33 Capital One

P. 19 Santander P. 35 Wilmington Trust/M&T Bank CONGRATULATIONS TO P. 20 U.S. Bank P. 37 IDB Bank

P. 21 KPS Capital Partners, LP P. 38 City National Bank P. 23 Citi P. 39 Webster Bank Raquel PalmeR P. 25 Flushing Bank P. 40 U.S. Bank

P. 27 ConnectOne Bank P. 41 BHI ON YOUR P. 29 HSBC P. 43 RBC Capital Markets P. 31 CIT ELEVATION TO CO-MANAGING PARTNER AND RECOGNITION AMONG CRAIN’S “NOTABLE WOMEN IN BANKING AND FINANCE” Celebrating YOU ARE AN INSPIRATION! inspiring women in banking

KPS CaPital PartnerS, lP Congratulations, Leslie Godridge, on being named a 2019 Notable Woman in Banking and Finance! U.S. Bank A middle market private equity limited partnership focused on proudly recognizes your outstanding leadership and Leslie Godridge Vice Chairman and Co-Head, constructive investing in highly complex corporate carve-out transactions, inspiring contributions to our industry. With over 30 years Corporate & Commercial Banking in financial services, you combine in-depth expertise, turnarounds, restructurings and other special situations vision and commitment to push boundaries and redefine

excellence in banking. Thank you for passionately 485 Lexington Avenue, 31st FLoor

working to build new opportunities at U.S. Bank. new York, nY 10017

teL: 212.338.5100

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

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KLN482CN019052.indd Ad_Palmer_03_M01.indd 1 1 2/28/193/4/19 11:4412:49 AMPM KPS Capital partners, lp

CONGRATULATIONS TO

Raquel PalmeR

ON YOUR

ELEVATION TO CO-MANAGING PARTNER AND RECOGNITION AMONG CRAIN’S “NOTABLE WOMEN IN BANKING AND FINANCE”

YOU ARE AN INSPIRATION!

KPS CaPital PartnerS, lP

A middle market private equity limited partnership focused on constructive investing in highly complex corporate carve-out transactions, turnarounds, restructurings and other special situations

485 Lexington Avenue, 31st FLoor

new York, nY 10017

teL: 212.338.5100

www.kpsfund.com

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Women claim their place in finance A big round of applause The industry overall remains “People tend to see certain qualities in a positive light At work and at home, Dothan says, she’s had support for when demonstrated by a man and see the same qualities breaking out of traditional gender roles and pursuing her for making Crain’s Notable in a negative light when demonstrated by a woman,” she full career potential. male-dominated. But women said. “The [words] that people choose when talking about “I always looked at myself as an individual,” she said. women versus men tend to be stereotypes—a man being Women in Banking and “The questions I’ve always asked myself are, How, as an leaders say change has arrived. ‘ambitious’ or ‘tenacious’ versus a woman being a ‘shrew’ individual, I can succeed? How can I climb up the lad- or ‘aggressive.’” der?’ Not: How—as a woman—can I succeed?” Finance list. Biases against women are not nearly as overt or common When Andrea Kantor, a senior vice president at IDB Bank, as they once were, Kantor says, but women still must Confidence is key began her career in the 1980s on Wall Street, she faced a contend with them. Industry insiders agree that confidence is a necessity for harsh set of stereotypes that assumed—and helped en- women who want to make it to the top. sure—few women would keep jobs there for long. Being heard also remains a challenge for women in some workplaces. For instance, Sidhu realized early in her career she need- The stereotypical female professional on Wall Street, she ed to get comfortable taking credit for her accomplish- And another. Luvleen Sidhu, who co-founded BankMobile in 2015, recalls, would remain single and be available to work all ments. Women often water down their achievements, she says women are more timid than men about speaking up hours, with no homelife that required balancing. Yet they says, by attributing their actions and successes to their for themselves. At the same time, some male colleagues And another. would never run the company. Men, meanwhile, would teammates—sometimes not even noticing when they say make the problem worse, Sidhu says. marry and have children. What’s more, men were the only “we” instead of “I.” ones in the top jobs. “Sometimes when women speak “You need to be a team player, up,” she said, “I have heard men One day, Kantor went to a job interview at an investment but women also need to be very Congrats to Barbara Desoer, Julie Monaco and cut them off and start talking.” bank that succinctly drove home the double standard. clear about their added value and Maria Hackley. Your relentless dedication to

The interviewer pointed to a picture on his desk of his B:14.75” In those situations, Sidhu makes speak up about what their contri- T:14.5” S:14” three daughters, who were close to Kantor’s age, and it a point to intervene: “I try to “You need to be a team bution is,” she said. progress is an inspiration to us all. talked about their aspirations—to get married, to become call that out in a professional player, but women also Sidhu recommends that women mothers. way, helping that person speak keep a record of what they con- up again by saying, ‘Hey, you need to be very clear “He was basically telling me this should be my goal,” she tribute at work and the effects of were saying something. I want said. “I knew immediately I couldn’t work there. It con- their efforts. By taking note of these From your Citi Family you to finish that thought.’” about their added value firmed I should leave the industry.” contributions, women can make a Effective managers and the and speak up about what That experience led Kantor to commercial banking, more persuasive case for a raise or a example set by company leaders where women had already begun to ascend the ranks. their contribution is” promotion, she says. can help change both of those There, she saw examples of the life she wanted—and behaviors and the mindsets that Insiders also agree that women the life she would one day have: Women held leadership Luvleen Sidhu contribute to them, Sidhu says. have reason for confidence be- positions and had families—just as the men did. BankMobile Yet even at senior-executive cause the tide is changing. Today’s The industry has changed significantly since then. levels, this issue can carry over companies are more aware of into salary negotiations. Male inequality’s negative effects on For one thing, more women now work on Wall Street. In senior leaders are typically direct workplaces. In response, many addition, women have assumed some of the top roles about their salary expectations, firms have taken steps to level the at major financial services companies. Many workplac- Sidhu explains. They advocate for themselves, citing their playing field by changing policies, boosting awareness es across industries have tried to attract and hire more market value and opportunity costs. and actively seeking diverse hiring pools. women. “You never have those conversations with women,” she In this era, being different from the status quo might give Nevertheless, some challenges persist. said. “Women are like, ‘I really enjoy working here. I appre- finance professionals an advantage. Only 31 percent of senior-level leaders in commercial ciate a seat at the table. I just want to be paid fairly.’” “I was 28 when I co-founded BankMobile,” Sidhu said. banking are women, according to figures from Catalyst, The result? “Women are underpaid,” she said. “People were excited about a different perspective—the a nonprofit that advocates for women in the workplace. passion, the energy I came in with. That got them excited In investment banking, that number drops to 17 percent. Leaders must step in to help dismantle these patterns and gave them a desire to listen closer.” A 2016 study by Morningstar shows that women man- and generate change, Sidhu says. Sidhu’s employees age less than 10 percent of U.S. mutual funds. A pay gap receive mentorship and coaching, which she says help Not every slice of the industry has become more inclusive exists for women across the financial industry, the U.S. prepare them to pursue their career goals. at the same pace, however. For example, women own Bureau of Labor Statistics found. only 5 percent of hedge funds, according to a 2017 report Leadership sets the example by the Bella Research Group and the John S. and James L. Despite these numbers, women in top banking and When women are represented at the top levels of leader- Knight Foundation. finance positions say change is here—and they expect ship, younger employees see that there is a place for them more of it down the road. too. This dynamic has held true for Dafna Dothan, chief While there’s still room to improve, Kantor says, the industry has made significant strides. Young women today Some bias remains risk officer at Leumi. start their careers in an altogether different climate than Kantor says women are much more accepted in the work- She joined the company’s U.S. arm after 16 years in Israel the one she confronted, she says, and they know they can place than they were when she started out. Managers no at Leumi, the nation’s largest bank. Leumi garnered reach the top if they want to. longer expect women to leave their careers permanently attention for having two consecutive female CEOs and a if they have children, she says, and it’s no shock when a high percentage of women in leadership positions. With The examples, the mentors, the support they need—they woman takes command of a team—but women still face that company culture, Dothan says, gender has been a are all there and slowly gaining momentum in more ways unconscious bias. nonissue in her career. than ever before.

22 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019 © 2019 Citigroup Inc. All rights reserved. Citi, Citi and Arc Design and other marks used herein are service marks of Citigroup Inc. or its affiliates, used and registered throughout the world.

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STUDIO#: S0001155.1 CLIENT: CITIBANK Name WC OK Date Agency Job #: B1111-013326-00 Bleed: 11.125” x 14.75” Colors: 4CP VENDOR: PRODIGIOUS in NY Art Director: Lane Mott 4700232673 APP: CC 2018 PO #: Trim: 10.875” x 14.5” Spot Color: Copy Writer: -- ENT 013326 Crains NY Notable File Name: Live: FONTS: Interstate (Light, Women.indd 10.25” x 14” Light Italic, Bold, Regular; Traffic: Rich Look Magazine OpenType) Scale Ratio: Media Type: 1” : 1” LINKS: Citi_PLT_LO_ Production: Rich Look 2019 Logo_Tagline_CMYK.ai Issue Date: Layout DPI: - DPI Account M_offset_comp_248959. Adrianna Catalanotto tif Manager: 2-27-2019 3:18 PM Effective DPI: - DPI Project Creation Date: Citi_WelcomeWhats- - Next_lockup-out- Manager: Last Modified: 2-28-2019 10:05 AM Deliverable: PDFx1a lined-v2_no®.ai Proofread- CRAIN’S NY er: Publications: Studio: Victor Hall Job Desc: Notable Women PDG_Publicis:Citicorp:Mechanicals:2018:ENT:ENT 013326:Docu- AE OK Rel: File Location: ments:ENT 013326 Crains NY Notable Women.indd -- Proofed @ Notes: None

ENT 013326 Crains NY Notable Women.indd Proof ROUND Stock: Epson 133 SWOP #: 1.2 B:11.125” T:10.875” S:10.25”

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 B:14.75” T:14.5” progress is an inspiration to us all. S:14”

From your Citi Family

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ENT 013326 Crains NY Notable Women.indd Proof ROUND Stock: Epson 133 SWOP #: 1.2 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.

ELLEN ALEMANY BARBARA DESOER MARY CALLAHAN Chairwoman and CEO Chief executive officer ERDOES CIT GROUP CITIBANK, N.A. CEO JPMORGAN ASSET & WEALTH MANAGEMENT

Since her appointment as Barbara Desoer oversees For six years running, chairwoman and CEO in approximately 75% of American Banker has iden- 2016, Ellen Alemany has Citigroup’s total assets. tified Mary Callahan Erdoes directed CIT’s evolution as She leads Citigroup’s as its Most Powerful Wom- a leading national bank empowering businesses and anti-money-laundering function and contributes to an in Finance. Under Erdoes’ stewardship, JPMorgan personal savers. Prior to joining CIT, Alemany served as the bank’s comprehensive capital analysis and review Chase’s asset and wealth management division reached a chairwoman and CEO for RBS Citizens Financial Group process. Desoer served as the co-head of the Citi Wom- record-high of $2.8 trillion in client assets in 2018. Erdoes Inc., where she oversaw all of the Royal Bank of Scotland’s en global women’s initiative from 2014 to 2016. She is a also made history when she made her division the first businesses in the Americas. Before that, she held a num- member of the board of directors of DaVita Inc., a health foreign-owned asset management company to operate in ber of executive positions at Citigroup, including CEO care company dedicated to kidney care, and a member Shanghai’s free-trade zone in 2016. Before joining JPMor- for global transaction services, executive vice president of the board of visitors of the University of California, gan Chase, Erdoes worked at the fixed income advisory for commercial business and president and CEO of Citi Berkeley. Prior to joining Citi, Desoer held various roles firm Meredith Martin & Kaye, as well as Bankers Trust, Capital. Alemany devotes much of her personal time to at Bank of America, including president of home loans, where she worked in corporate finance, merchant bank- charitable causes. She sits on the boards of directors for global technology and operations executive, president ing and high-yield debt underwriting. Erdoes donates her the Center for Discovery, Operation HOPE and Partner- of consumer products and director of marketing. Desoer time and expertise to several nonprofits, including Robin ship for New York City. She also advises the Mayor’s Fund is retiring from Citi in April and joining the Citi board. Hood, the U.S. Fund for UNICEF and the U.S.-China to Advance New York City. Business Council.

ADENA FRIEDMAN SALLIE KRAWCHECK MARIANNE LAKE President and CEO CEO and co-founder Chief financial officer NASDAQ INC. ELLEVEST JPMORGAN CHASE

In her leadership position Sallie Krawcheck’s profes- Marianne Lake has been JP- at Nasdaq, Adena Friedman sional mission is to get more Morgan Chase’s chief financial helped secure the company’s money into the hands of officer since 2012, and today status as a leading global women. She’s been named she also serves on its operating exchange operating across six continents. After joining the Seventh Most Powerful Woman in the World by Forbes committee. Her previous roles at the firm include CFO of the firm in 1993, she has played critical roles on Nasdaq’s and listed on Vanity Fair’s 2018 New Establishment List Consumer & Community Banking and global controller of management team for more than a decade, including for her role as CEO and co-founder of Ellevest, a digital the Investment Bank. She also managed the firm’s global head of corporate strategy and chief financial officer. She investment platform designed specifically for women. financial infrastructure and control programs as part of the oversaw the company’s acquisitions of INET, OMX and Krawcheck chairs both the Ellevate Network, an inter- Corporate Finance group. Fortune named Lake to its Most the Philadelphia and Boston Exchanges. Friedman also national network for women professionals, and the Pax Powerful Women list in 2018. She serves on the board of served three years as chief financial officer and manag- Ellevate Global Women’s Leadership Fund. Her book, directors for the JPMorgan Chase & Co. Foundation, which ing director of The Carlyle Group, where she played an “Own It: The Power of Women at Work,” is a Wall Street in 2017 alone gave $250 million to organizations in the U.S. instrumental role in taking the firm public. She returned Journal and Washington Post bestseller. Before launch- and around the world. Lake co-founded JPMorgan Chase’s to take Nasdaq’s helm in 2014. Friedman has served on ing Ellevest, Krawcheck built a successful career on Wall empowerment-oriented Women on the Move initiative and the board of Junior Achievement of Greater Washington, Street, serving as CEO at Merrill Lynch, Smith Barney, sits on the board of the New York City Ballet. an organization that prepares youth for success in the US Trust, the Citi Private Bank and workplace. Sanford C. Bernstein.

24 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019 Source: †Harvard Business Review/U.S. Bureau of Labor Statistics

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______BARBARA NOVICK ELLIE WHEELER ANNE CLARKE WOLFF Vice chairman Partner Head of global corporate BLACKROCK GREYCROFT banking and global leasing BANK OF AMERICA MERRILL LYNCH

A co-founder of BlackRock, Ellie Wheeler is a partner in the From her New York office, Barbara Novick has been with New York office of the ear- Anne Clarke Wolff oversees the firm since its inception in ly-stage venture capital fund a team of 400 profession- 1988. In her early years with BlackRock, she oversaw glob- Greycroft. She held a similar position evaluating invest- als across 45 cities in 30 countries for Bank of America al business development, marketing and client service for ment opportunities for Lowercase Capital before leaving for Merrill Lynch’s entire global corporate banking effort. institutional and individual investors. Novick currently Greycroft in 2011. Wheeler’s experience also includes a stint She also leads the largest U.S. leasing company, serv- manages BlackRock’s global public policy and investment in corporate development at Cisco, where she worked on ing 64,000 clients worldwide. American Banker named stewardship initiatives. Novick serves as a trustee of her acquisitions, investments and strategy. Her work at Cisco her one of its Most Powerful Women in Banking. Prior alma mater, Cornell University, and sits on the executive focused on the unified communications, enterprise soft- to her tenure at Bank of America, Wolff led global sales committee of the Investment Company Institute. She has ware, mobile and video sectors. While there, she oversaw for treasury and securities services at JPMorgan Chase, also served lengthy volunteer stints with the Westchester acquisitions and investments including PostPath, Jabber, where she drove double-digit growth. She also headed Jewish Center and the Westchester Youth Soccer League. Xobni and Tandberg. Wheeler began her career in growth several divisions at Citigroup, shepherding Fortune 500 Novick received the 2013 Effecting Change Award from capital private equity at Summit Partners in Boston. She companies through inaugural bond offerings, corporate 100 Women in Hedge Funds and the Pioneer Award from graduated magna cum laude from Georgetown and earned restructuring and acquisition financing. Wolff serves on Chief Investment Officer magazine, and earned Markets her MBA from Harvard Business School. the boards of The Public Theater, the Brooklyn Historical Media’s 2016 Lifetime Achievement Award. Society and Amphenol Corporation.

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

Congratulations Maria A. Grasso and Susan K. Cullen

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. Maria A. Grasso Susan K. Cullen Senior Executive Vice President, Corporate Senior Executive Vice President, Secretary and Chief Operating Officer Treasurer and Chief Financial Officer Flushing Financial Corporation Flushing Financial Corporation

Small enough to know you. Large enough to help you.® www.FlushingBank.com Flushing Bank is a registered trademark

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

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______KAREN ALTFEST ALEXANDRA BARTH Executive vice president Managing director and and principal advisor co-head of U.S. leveraged ALTFEST PERSONAL capital markets WEALTH MANAGEMENT DEUTSCHE BANK The Global Banking Alliance for Women, a consortium As an executive vice president of financial institutions In her career at Deutsche at Altfest Personal Wealth Bank, Alexandra Barth has Management, Karen Altfest across 135 countries, was been personally involved works directly with clients on in raising more than $100 investment issues and financial planning. She specializes established in 2000 with a billion in the media and telecommunication sectors. As in working with women and widows, and is passionate goal of providing women managing director and co-head of U.S. leveraged capital about education and empowerment. To that end, she has markets, she is essential to the origination and execution designed programs such as Financially Savvy Woman® entrepreneurs the tools of high-yield financings. She also manages the firm’s risk to help clients develop financial knowledge. Altfest has * position in underwritten bond transactions. The roster of served in several roles in academic settings, including they need to succeed marquee clients with which Barth has worked includes co-director of the Financial Planning and Investments DISH, Echostar, Charter, Univision, Virgin Media, Soft- Program at The New School in New York City. She cur- bank, T-Mobile and Wind Telecom. In 2014, Barth’s work rently helps lead the Alumni Professional Development was cited by IFR when the magazine named Deutsche Task Force of the CUNY Graduate Center. Bank U.S. Debt House of the Year.

FIONA BASSETT LISSA BAUM Global co-head of products Executive vice president and global co-head of and chief lending officer passive asset management IDB BANK DWS GROUP

Since joining DWS Group A 23-year veteran of IDB (formerly known as Deut- Bank, Lissa Baum heads the In 1967 Muriel Siebert sche Asset Management) in company’s corporate lending, became the first woman to 2004, Fiona Bassett has held asset based, real estate and Under your bold leadership, multiple leadership positions. In her current roles, Bassett factoring departments. She also partners with the firm’s buy a seat on the New York develops and strategizes passive asset solutions for the L.A. and Florida offices to develop their loan portfolios. † ConnectOne Bank has defied the company worldwide. She also coordinates and manages After earning a bachelor’s degree from McGill University Stock Exchange active, passive and alternative products at DWS. Bassett is in Montreal and an MBA in finance from NYU, Baum expectations of what a bank can be. active in DWS Group’s People Engagement Group, which launched her financial services career with a 10-year stint encourages employees to participate in volunteering, at Chemical Bank, now known as JPMorgan Chase. Baum community service and charitable events, and serves as favors a client-centric approach, earning her a reputation a member of the Sustainable Investing Leadership Team. with her customers as a dedicated, hands-on and hard- Your commitment to always putting the Bassett is a member of Women in ETFs, and she was re- working leader. cently named a fellow of the Foreign Policy Association. client first and acting with a sense of urgency has allowed us to build one of KATIA BOUAZZA LORI CALVASINA the best performing banks in the Co-head of global Head of U.S. equity strategy banking for Latin America RBC CAPITAL country. We thank you for making us HSBC MARKETS Research suggests a better place to be. organizations with Katia Bouazza began her Lori Calvasina is well known diverse management teams HSBC career in 1996 and among the financial media make better decisions currently oversees the bank’s for her expertise on the U.S. client coverage in all sectors stock market. CNBC and because they are less in Latin America, as well as financing solutions for the re- Bloomberg frequently invite her to weigh in on market gion. She also leads HSBC’s coverage and product teams trends. Prior to joining RBC Capital Markets in 2017, prone to groupthink and in both the U.S. and Latin America. American Banker Calvasina spent nearly two decades in equity strategy at more able to see issues named Bouazza one of the 25 Most Powerful Women major investment banks, including Credit Suisse. Before †† in Finance for the past six years. Under her leadership, that, she worked at Citi, where she twice placed second in from many angles HSBC has received several major industry honors, in- the small companies category of Institutional Investor’s cluding Latin America’s Best Bank for Financing in 2016, All-America Research Team. Calvasina earned her degree from Euromoney. Bouazza supports the Family Equality in government and foreign affairs at the University of Council, which advocates for LGBTQ families. Virginia where she was a Lawn Resident, one of the institution’s highest honors.

26 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019 Sources: *Global Banking Alliance †Forbes ††Mercer

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______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 STEPHANIE COHEN SUSAN CULLEN Chief strategy officer Senior executive vice GOLDMAN SACHS president, treasurer and CFO FLUSHING BANK

Stephanie Cohen leads Female representation At Flushing Bank, Susan Launch with GS, the firm’s first on boards in the financial Cullen oversees general for-profit investment initia- accounting, treasury, asset li- tive committed to women’s services industry has ability management, strategic economic empowerment. Before becoming managing planning, tax functions, investor relations and regulatory director and chief strategy officer at Goldman Sachs, Cohen increased by two-thirds compliance. The organization credits Cullen’s diverse was global head of financial sponsor mergers and acquisi- in the past 10 years* areas of expertise for its financial performance and strong tions in the investment banking division, sector captain for relationships within the investment community. Before general industrials in the global industrials group and a vice joining Flushing Bank in 2015, she accrued more than president in the industrials and merger leadership groups two decades of experience at firms in the banking, ac- in San Francisco. She serves on the boards of directors for counting, business services and utility industries. Cullen CollegeSpring and Quill.org. Cohen graduated summa cum donates her time to Neighborhood Housing Services of laude from the University of Illinois with a bachelor’s in New York City, where she sits on the board and chairs the finance. audit committee.

DAFNA DOTHAN HAFIZE GAYE ERKAN LAURA FAZIO Chief risk officer President Head of commercial banking LEUMI FIRST REPUBLIC technology, media and telecommunications SANTANDER

Dafna Dothan joined In addition to her role as Laura Fazio leads U.S. Leumi’s U.S. operation as president, Hafize Gaye Erkan strategy and investment in chief risk officer in 2009. Ear- manages First Republic’s technology, media and tele- lier in her career, she held var- investment portfolio and communications for ious management positions in the corporate division of oversees the bank’s deposit gathering franchise and Santander’s commercial bank. Before joining Santander, the Leumi Group, Israel’s oldest banking corporation and banking activities in Boston and New York. She was she was the managing principal at Twin Oaks Advisors, among the largest financial firms in the Middle East. Do- recently named to the Board of Directors. Before joining a boutique investment banking advisory firm she than earned a master of business administration degree First Republic, she was the managing director and head founded in 2010. In that role, Fazio advised small-cap from Tel Aviv University. She currently sits on the board of of Goldman Sachs’s financial institutions group, where and middle-market technology, media and entertainment trustees for the National School Climate Center, a charity she worked with banks, insurance companies and other companies seeking structured capital investment from organization based at Columbia University that promotes financial institutions on balance sheet optimization, institutional investors. Fazio has held leadership posi- learning environments that support social, emotional, restructurings and risk management. Erkan holds a doc- tions at Aladdin Capital Management, Deutsche Bank and civic and academic development for all students. torate in operations research and financial engineering Dresdner Kleinwort. She earned her Master of Business from Princeton University and for a time was the young- Administration from the Thunderbird School of Global est finance professor in the United States. Management at Arizona University.

CAROLYN FINER ALEIDA FREDERICO Senior investment Vice president; senior strategist and managing relationship manager in In the early 1900s, director commercial lending CITY NATIONAL TD BANK Maggie Lena Walker ROCHDALE became the first woman bank president in the Carolyn Finer brings more Aleida Frederico is a passion- than 25 years of experience ate advocate for inclusion and United States; she chartered in investment management diversity in her community. St. Luke’s Penny Savings to her role at City National In her role with TD Bank she Rochdale, where she works with City National’s private provides customized banking solutions for business, Bank, a community bank to lead investment business development efforts education and not-for-profit institutions in New York. A for high-net-worth private clients and institutions. As a native of Cuba, Frederico is a founding board member of lending institution that committee member of City National’s Women’s Network- 100 Hispanic Women Leaders’ Westchester chapter and sought to promote savings ing Group in New York, she helps support programs to chair of TD Bank’s Regional Diversity Council for Metro expand women’s opportunities for career and leadership New York. She recently received the Women’s Enterprise and homeownership, development. She has served on a local private school Development Center’s 2018 Enterprising Woman Award board and stays active in her community as a member of and the African American Men of Westchester Visionary namely for women and the Two Rivers Women in Business Consortium and the Award, which recognizes outstanding individuals who racial minorities† Middletown Tennis Association. have contributed to the enhancement of the Westchester community.

28 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019 Sources: *Oliver Wyman †The Washington Post

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______CN019050.indd 1 3/4/19 11:43 AM CN019050.indd 1 3/4/19 11:43 AM SHARON FRENCH CLAUDINE Executive vice president and GALLAGHER head of beta solutions Head of securities OPPENHEIMERFUNDS services, Americas BNP PARIBAS

Since 2016, Sharon French has Since 2012, Claudine overseen OppenheimerFunds’ Gallagher has worked for BNP environmental, social and Paribas, where she currently governance efforts. She leads serves as head of the Ameri- the development and implementation of smart beta ETF In 2014 Janet Yellen cas for the firm’s Securities Services business. Gallagher’s solutions. As a member of the senior leadership team, she became the first chairwoman responsibilities include strategic development, marketing also plays an integral role in the firm’s overall strategic initiatives and spearheading client and product devel- * Navigating direction. French serves on the board of Women in ETFs, of the Federal Reserve opment throughout the region. She recently joined the the first international group dedicated to furthering the board of directors of the Depository Trust & Clearing careers of women in the ETF industry. Before joining Corporation. For each of the past three years, American OppenheimerFunds, French held senior positions at BNY Banker Magazine has listed her as one of its 25 Most Mellon, F-Squared Capital and BlackRock. She has also Powerful Women in Finance. Gallagher also sits on the Ellen R. Alemany held positions with AllianceBernstein, mPower, Smith board of the French-American Chamber of Commerce in Chairwoman and CEO Barney and Chase Manhattan Bank. New York. the way

LORRAINE GEORGE- LESLIE GODRIDGE MARIA GRASSO HARIK Vice chairman and co-head Senior executive vice Co-founder and partner of corporate and commercial president, corporate forward. banking secretary and chief CERITY PARTNERS U.S. BANK operating officer FLUSHING BANK

Lorraine George-Harik Leslie Godridge has played an In her 12 years as Flushing helped launch Cerity Partners, integral role in establishing Bank’s chief operating officer, a comprehensive financial strong market leadership for Maria Grasso has managed services firm, where she now U.S. Bank in New York City sales and operations, ethnic Congratulations to Ellen Alemany, serves on the executive and personnel development and Charlotte, N.C. She built the corporate banking unit markets, business, government and internet banking, as committees. She has more than 25 years of experience by recruiting quality talent and supporting sustainable well as the retail bank. She also spearheads the compa- Denise Menelly and Marisa Harney in wealth management, corporate and international business growth. In her previous role, she was The Bank ny’s process reengineering, expense management and banking, and capital markets. She has held leadership of New York’s first female executive, senior executive and corporate change management initiatives. Grasso is positions at Citi Private Bank in New York, First Chicago’s vice president in company history. Godridge was named currently a member of the National Board of the Ameri- for being selected as Notable Women International Banking Department and sovereign wealth one of American Banking Magazine’s 2017 Most Pow- can Kidney Fund and president of the Hofstra University Denise M. Menelly agencies in the United Arab Emirates. George-Harik erful Women in Banking. She also heads the U.S. Bank Frank G. Zarb Business School Alumni Association. She Head of Technology & Operations volunteers for the Metropolitan Museum of Art and Foundation in New York City, leading the committee that previously chaired United Way of Long Island’s board of in Banking and Finance by Crain’s. the Church of Our Saviour. She also is a patron of the analyzes grant requests and provides funding recommen- directors. This year, she will serve as an event chair for American Friends of the Louvre and St. Jude Children’s dations. the 2019 American Heart Association’s Go Red for Women Hospital. campaign. You’ve built a culture of integrity and inclusivity that inspires us all. DEBORAH MARIA HACKLEY GRAVINESE Managing director; co-head Senior vice president, global industrials group, TD Bank Group; head of credit banking, capital markets risk and chief risk officer, and advisory TD Securities CITI After being denied TD BANK admission into the Young Deborah Gravinese is respon- Since 2016, Maria Hackley Men’s Investment Association sible for the credit decisions has overseen a new business for all non-retail portfolios at origination team charged with on Wall Street in 1956, TD Bank and for maintain- developing global relation- ing a comprehensive view of risk across the company’s ships with Citi’s industrial clients. Her tenure with Citi eight women formed the wholesale banking business. She is also in charge of reaches back to the early 1980s, when she was hired as Young Women’s Investment enterprise-level credit deliverables, including risk appe- an analyst with the Latin American Financial Institutions cit.com |    @CITgroup tite reviews and consolidation of credit risk materials for Group. Fluent in Spanish, Hackley serves on Citi’s Global Association, which still Marisa Harney internal and external stakeholders. Gravinese was hon- Banking Diversity Steering Committee and NextGen † ored as one of American Banker’s Most Powerful Women Recruiting Steering Committee, and is a board mem- thrives today Chief Credit Officer in Banking—Top Teams in 2018. A graduate of George ber of Breakthrough New York, a nonprofit that ushers Washington University, Gravinese began her career with low-income middle school students through college. Chase Manhattan Bank before holding various credit Hackley was named one of the 50 Most Powerful Latinas roles at both TD Securities and TD Bank Group over the in Business by the Association of Latino Professionals for past 30 years. America in 2018.

© 2019 CIT Group Inc. All rights reserved. CIT and the CIT logo are registered trademarks of CIT Group Inc. 30 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019 Sources: *Forbes †Financial Women’s Association

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______CN019043.indd 1 3/4/19 11:33 AM Navigating

Ellen R. Alemany the way Chairwoman and CEO forward.

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

cit.com |    @CITgroup Marisa Harney Chief Credit Officer

CN019043.indd 1 3/4/19 11:33 AM MARISA HARNEY SUSAN HUANG Executive vice president Vice chairman and global and chief credit officer head, investment banking CIT MORGAN STANLEY The Equal Pay Act, a labor law that prohibits Following her promotion to Since joining Morgan executive vice president and gender-based wage Stanley in 1984 as a financial chief credit officer in 2018, discrimination in the analyst, Susan Huang has Marisa Harney oversees advised the firm’s largest cli- all elements of credit policy, process, governance and United States, was signed ents on mergers, acquisitions, spin-offs, divestitures and model development for CIT, a financial holding company recapitalizations. Notable transactions include the sale of responsible for $50 billion in assets. She previously served by President Mead Johnson to Reckitt Benckiser and the combination as co-chair of the company’s Allowance for Loan and John F. Kennedy of GE’s oil and gas business with Baker Hughes. Huang Lease Losses Committee. Prior to joining CIT, Harney was serves on Morgan Stanley’s operating and management the chief risk officer at GE Capital Americas and head of in 1963 committees. She also sits on the board of directors of corporate credit risk of the Americas for Bank of America. Lincoln Center for the Performing Arts, the board of She holds an MBA from the New York University Stern visitors for the John Sloan Dickey Center for International School of Business and a bachelor’s degree in finance Understanding and the President’s Leadership Council at from Fordham University. her alma mater, Dartmouth College.

ANDREA KANTOR AUDREY KAPLAN MICHAL KATZ Senior vice president, group Head of global equity Global co-head of technology head of healthcare, education strategy investment banking & not-for-profit banking WELLS FARGO RBC CAPITAL MARKETS IDB BANK

Andrea Kantor serves as se- Audrey Kaplan leads the Michal Katz is co-head of the nior vice president of Health- global equity strategy team global technology investment care, Education and Not- at the Wells Fargo Investment banking group at RBC Capital For-Profit Banking at IDB, Institute, setting investment Markets, where she helps managing a specialized team to deliver banking solutions strategy used by Wells Fargo’s investment profession- leading and emerging technology companies meet their for clients including schools, cultural institutions, social als on behalf of clients. She brings to this role 30 years financing and strategic objectives. In addition to clients service agencies, hospitals and various charities. Long of global investment industry experience, with a focus such as Cisco, Dropbox and Tesla, she works with leading Island Business News named her one of its Top 50 Most on equity research, quantitative analysis and portfolio venture capital and private equity firms. Katz serves on Influential Businesswomen in 2006. Kantor serves on the strategy in global and domestic markets. She also serves the firm’s Regional Operating Committee and helped board of trustees of the Community Synagogue and on as a member of the Rensselaer Lally Leadership Council, found the Innovation Council, which strives to advance the Long Island Imagine Awards Committee. As an early which provides guidance on strategic initiatives and aca- RBC Capital Markets’ global businesses with new tech- advocate for corporate social responsibility, she founded demic programs to help Rensselaer Polytechnic Institute’s nologies and disruption-driven investments. She also Inspiring through the First Team corporate volunteerism program while Lally School of Management develop future business and serves on the leadership council of Tech:NYC, a nonprofit working at First Chicago in New York. technology leaders. that supports the New York technology ecosystem. action

NANCY KING ESTHER LAINIS Managing director; head Senior vice president, middle of global commodities market banking group division CAPITAL ONE MORGAN STANLEY COMMERCIAL BANKING Congratulations to our very own Esther Lainis, Senior Vice President in the Greater Esther Lainis New York City Market, for being named to the Crain’s New York Business list of Senior Vice President 2019 Notable Women in Banking and Finance. On behalf of the entire Capital One® 646-23 -9099 Since joining Morgan [email protected] Esther Lainis brings 20 years Women made up Commercial Banking team, we are thrilled to see her accomplishments recognized. Stanley in 1986, Nancy King of experience in lending and has amassed more than 30 commercial banking services 26% of the board members years of experience in com- to her role as senior vice We’re fortunate to have Esther’s leadership and vision and wish her continued modities. Before being named global head of the division president for Capital One Commercial Banking, where in banking and capital success for years to come. in 2015, she served as its chief risk officer and head of she focuses on the consumer products industry. Lainis markets in 2016† flow oil liquids. She has also served as head of U.S. coal began her career with Marine Midland Bank and held trading and U.S. emissions, as well as chief operating senior lending positions with M&T Bank, HSBC and IDB capital.one/commercial officer for gas and power. In 2000, King helped form the prior to joining Capital One. Since 2013, Lainis has been Intercontinental Exchange, where she served as a board a member of the board of directors of the New York City- member from 2001 to 2003. King graduated from Duke based Center Against Domestic Violence. She also serves University in 1986 with a bachelor’s in on the steering committee for The Needlers Foundation, political science. 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.

32 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019 Source: †PwC

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______CN019047.indd 1 3/4/19 11:37 AM Inspiring through action

Congratulations to our very own Esther Lainis, Senior Vice President in the Greater Esther Lainis New York City Market, for being named to the Crain’s New York Business list of Senior Vice President 2019 Notable Women in Banking and Finance. On behalf of the entire Capital One® 646-23 -9099 [email protected] 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

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.

CN019047.indd 1 3/4/19 11:37 AM JANICE LIU ELIZABETH First vice president, New York MAGENNIS regional manager Executive vice president, EAST WEST BANK chief lending and relationship officer CONNECTONE BANK

Janice Liu leads a team of In North America, Elizabeth Magennis oversees more than 60 people in East women account for more the management, supervision West Bank’s New York City and direction of ConnectOne branch networks as they than half the entry-level Bank’s $4.5 billion loan port- provide business and consumer banking services to local folio. Since joining the company in 2006, she has been an communities. She also works with Chinese investors workforce in financial integral player in ConnectOne’s growth to nearly 30 loca- on overseas financial needs such as financing for real services* tions and more than $6 billion in assets. She assisted with estate projects. With 16 years of industry experience, Liu the bank’s initial public offering, which raised more than specializes in bridge banking financial services, including $50 million. Under Magennis’ leadership, the bank has onshore and offshore banking, international settlement, also made strides into the digital space with the launch of pledge of domestic financing and cash management ser- a cloud-based loan management system. In January 2019, vices. Before joining East West Bank, Liu worked as a vice she joined the Manhattan Chamber of Commerce’s board president and senior branch manager at HSBC. of directors.

ELLEN MARSHALL ALISON MASS DORIS MEISTER Executive vice president, Global head of financial and Executive vice president, region head, New York and strategic investors group wealth and institutional New Jersey, commercial GOLDMAN SACHS services division banking WILMINGTON TRUST/ SANTANDER M&T BANK

Ellen Marshall has built a In 2001, Alison Mass joined Doris Meister has worked in 30-year career in commercial Goldman Sachs as a partner. financial services and exec- banking, starting immediately Today, she serves as global head utive management for more after she received her finance of the Financial and Strategic than three decades. In her Strong degree from Lehigh University. She has held roles with Investors Group in the Investment Banking Division. In current role as executive vice president of M&T Bank’s CIT Group, Capital One and Sovereign Bank, before the addition, she serves as a member of the Management Com- Wealth and Institutional Services Division, she oversees company’s merger with Santander. As the newly ap- mittee, the IBD Executive Committee and the Firmwide M&T Securities, Wilmington Trust Wealth Management pointed regional head of middle marketing banking for Client and Business Standards Committee. Mass oversees and Wilmington Trust Advisors. She also serves on M&T’s Santander, Marshall’s responsibilities include managing the firm’s Launch with GS initiative, which invests both Management Committee. Prior to joining M&T, Meister the commercial banking business in Manhattan, Long the firm’s and clients’ capital solely in women-founded, worked in the financial institutions practice group at Island and New Jersey. She is an active member of her women-owned or women-led companies. Mass also serves McKinsey & Co., and served as president of U.S. markets community and currently sits on the board of directors of as chair of the board of overseers at New York University’s at BNY Mellon. She is an adviser to the One Love Foun- the New Jersey Performing Arts Center in Newark, N.J. Stern School of Business. dation, a charitable organization focused on ending relationship abuse. LEADERSHIP

MELISSA MELVIN DENISE MENELLY is worthy of recognition. Managing director, Executive vice president treasury and head of technology ALLY FINANCIAL and operations CIT Wilmington Trust and M&T Bank congratulate Doris P. Meister, head of our Wealth Management businesses, for being Research covering more named one of Crain’s Notable Women in Banking and Finance—an elite sisterhood of those who have been recognized In her 10 years as manag- As executive vice president than 90,000 companies ing director, treasury at Ally and head of technology and in 35 countries shows a for their professional, civic, and philanthropic achievements. We applaud all the honorees, and Doris in particular for Financial, Melissa Melvin has operations for CIT, Denise been responsible for the firm’s Menelly works with CIT’s clear link between the her deeper understanding of the importance of gender equality, diversity, and mentorship, and the need to maintain middle-office and operations team. She has also support- stakeholders to drive growth through technologies while ed the firm’s growing treasury and capital markets efforts promoting a strategic vision for streamlined operations. level of female board a culture of excellence in the workplace. across multiple business functions. Melvin is a senior She also oversees CIT’s information security strategy. representation and market leader in Ally’s New York office and a member of the Trea- Menelly has long championed women in business, both † sury Executive Counsel. Melvin also serves as a member as an executive board member of the National Center for performance of the leadership council for Ally’s Women Employee Women in Information Technology and by serving on the Resource Group, promoting a more diverse and inclusive organizing committee for the Technical Executive Forum. workplace through education, development and targeted Both organizations work to increase representation of talent acquisition. women in technology. She has also served as an ambas- sador with Vital Voices, providing mentorship to women leaders in developing countries.

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______CN019042.indd 1 3/4/19 11:32 AM

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.

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

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) IDB Bank congratulates Lissa Baum and Andrea Kantor ANNELIESE SEELAUS JULIE MONACO MITNICK Managing director; Chief executive officer global head of public sector, on making Crain’s Notable Women banking, capital markets R. SEELAUS & CO. INC. “If you look at what this and advisory in Banking and Finance list! country accomplished only CITI using half its talent, just Before she joined R. Seelaus think of the potential for the Julie Monaco is an industry & Co. in 2009, Annie Seelaus thought leader on anticorrup- Mitnick spent nine years future... we, by some rather tion and compliance issues, gaining corporate bond and leading Citi to become the emerging markets sales and trading experience working stupid decision, essentially first financial institution invited to join the World Eco- for HSBC in London and New York. She became the com- put half of our talent on nomic Forum’s Partnership Against Corruption Initiative. pany’s CEO in 2015, and currently leads its institutional Monaco has been named to American Banker’s list of sales and trading efforts. Mitnick’s strong commitment to the sidelines” 25 Most Powerful Women in Banking and Finance eight supporting women in the financial services community times, and she sits on the board of Citi Canada. She also begins with her own firm, which she uses as a platform to Warren Buffett, CEO, serves on the Corporate and Investment Bank’s Diversity help women reenter the financial workforce after a career Committee. She is an active member of the Citi Women’s break. She also actively supports community organiza- Berkshire Hathaway Network and the Citi Salutes Veterans Network, a U.S.- tions that empower women in finance. based program that supports military veterans as they transition to private-sector employment.

MICHELLE NEAL SANDIE O’CONNOR SHELLEY O’CONNOR Chief executive officer Managing director and chief Managing director and BNY MELLON MARKETS regulatory affairs officer co-head of wealth JPMORGAN CHASE management MORGAN STANLEY

As CEO of BNY Mellon Mar- Sandie O’Connor joined Shelley O’Connor has spent kets, Michelle Neal leads the JPMorgan in 1988 and now more than 30 years with firm’s global trading, funding sets JPMorgan Chase’s com- Morgan Stanley, serving in and liquidity businesses. She prehensive regulatory strategy a series of senior leadership is responsible for setting the strategic course for Markets, in her role as chief regulatory affairs officer and manag- positions. Today, in addition to her roles as managing and has established a strong record of driving annual ing director. She also maintains relationships with G-20 director and co-head of Morgan Stanley Wealth Manage- compound growth. In this role, she has helped raise BNY international standard-setters and policymakers involved ment, O’Connor chairs Morgan Stanley Private Bank and Mellon’s profile from that of a custody bank to a com- with evolving regulations and new laws. O’Connor serves serves as a member of the bank’s operating committee. prehensive financial services provider. In both 2017 and on several industry association boards and chairs the Before joining Wealth Management leadership, O’Connor 2018, American Banker named her to its list of the Most Federal Reserve’s Alternative Reference Rates Committee, led the division’s Southwest Region branch offices. She Powerful Women in Finance. In 2018, Global Custodian which is tasked with determining an alternative rate to serves on boards at the Securities Industry and Financial nominated her for its Industry Person of the Year Award. LIBOR. Her community involvement includes serving as Markets Association, as well as MAKERS and Catalyst, vice chair of the board of the YMCA of Greater New York. which support advancing women in the workplace.

CARIN LEONG PAI RAQUEL PALMER Executive vice president Co-managing partner and director of equity KPS CAPITAL PARTNERS management FIDUCIARY TRUST INTERNATIONAL 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. As head of Fiduciary Trust’s Raquel Palmer has been with Diverse boards have Equity Strategy Committee, KPS Capital Partners for just lower volatility, better Carin Leong Pai oversees the shy of 25 years. Along with her At IDB Bank, we like to say “It’s Personal” and that extends beyond our firm’s equity portfolio manag- partners, Palmer specializes performance and invest ers, guiding the team’s strategy and process. She has man- in transforming existing businesses into world-class, customers – to the successes and accomplishments of our employees. aged client portfolios and helped develop strategic asset industry-leading enterprises. Palmer sits on the boards of more in research and allocations for more than 20 years. In 2016, she received directors of several corporations, including TaylorMade development* For 70 years, IDB Bank has been helping both private and business clients the New York Business Journal’s Women of Influence award. Golf and Chassis Brakes International Group. She also That same year, she also received Money Management serves as chair for both DexKo Global and International achieve their financial goals through our fervent commitment to 5-star service. Executive’s Top Women in Asset Management award. Today, Equipment Solutions. A graduate of Stanford Universi- Pai serves on the board of trustees of the Citizens Budget ty, Palmer was honored as one of the Most Influential Commission, an organization working toward constructive Women in Mid-Market M&A by Mergers & Acquisitions change for New York’s government services and finances. and among Buyouts Magazine’s 10 Women Smashing PE’s Glass Ceiling. www.idbny.com

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 36 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019 Source: *Catalyst Israel Discount Bank of New York. Member FDIC.

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______IDB146_2019_Crains_Ad_v2.inddUntitled-7 1 1 2/21/192/22/19 10:45 5:15 PMAM IDB Bank congratulates Lissa Baum and Andrea Kantor on making Crain’s Notable Women in Banking and Finance list!

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

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.

IDB146_2019_Crains_Ad_v2.inddUntitled-7 1 1 2/21/192/22/19 10:45 5:15 PMAM ABBY PARSONNET TINA CHAN REICH DIANE REYES Regional president, Chief data scientist and Group general manager, metro New York chief risk officer global head of liquidity and WEBSTER BANK CREDIBLY cash management HSBC

When Abby Parsonnet joined Tina Chan Reich brings a Diane Reyes became group Webster Bank in 2013, she wealth of experience as a general manager at HSBC in spearheaded the successful strategy and analytics man- February 2015 and has been expansion of middle-market ager, with a specialty in risk the global head of liquidi- banking and community management and consumer ty and cash management affairs in the New York metropolitan area. She now serves and business insights, to her role as chief data scientist since 2011. She manages a multi-billion-dollar business as regional president for metro New York and head of the and chief risk officer of Credibly. She has a deep technical operating across five regions and oversees more than 80 bank’s Sales Council. In addition to her work at Webster, background and a track record of building award-win- products and services offered to large and middle-market Parsonnet is a board member, officer and founder of ning analytical teams. Prior to her work at Credibly, companies, financial institutions and governmental or- Delivering Good, a charity that helps supply apparel, Reich headed the data science, marketing analytics and ganizations. In addition to sponsoring diversity programs home furnishings and other products to people affected risk divisions at institutions including JPMorgan Chase, at HSBC, Reyes has served on the board of the Grace by poverty and disaster. She received the Community Citigroup and American Express. She has also served on Institute, which offers training to economically disadvan- Achievement Award from ORT America’s Accounting, the board of directors for the Small Business Financial taged women, and as treasurer of the New York Race for Banking and Attorneys Chapter. Exchange and Citicorp Payment Services. the Cure, an affiliate of the Susan G. Komen Breast Cancer Foundation.

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

Congratulations to City National’s Carolyn Finer

Carolyn Finer Senior Investment Strategist, Managing Director City National

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

The way up® for the New York business community.

Untitled-4 1 3/4/19 11:38 AM COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______JOSEPHINE SAVASTANO LUVLEEN SIDHU ELENA SISTI Regional president of Co-founder, president and Founder, chairperson New York and New Jersey C&I chief strategy officer emeritus and member lending BANKMOBILE of board of directors VALLEY SAVOY BANK

Since joining Valley in May Luvleen Sidhu strives to Elena Sisti became only the 2018, Josephine Savastano provide millennials and second female bank founder has already been promoted to middle-income Americans in New York City when she regional president overseeing with affordable digital bank- launched Savoy Bank in 2008. commercial and industrial ing. She also founded the Now chairperson emeritus, lending for the bank’s New York and New Jersey business. BankMobile Foundation, which funds budding entrepre- Sisti sits on the bank’s board of directors, as well as its Savastano’s previous work experience includes five years neurs and organizations that promote financial literacy. credit, asset-liability and audit committees. Prior to as a team leader at Wells Fargo’s New York Commercial In addition to mentoring fintech startups through the founding Savoy Bank, she spent 25 years with Citibank, Bank and leadership positions at other financial insti- Techstars accelerator program, Sidhu supports several where she served as director of strategic planning and tutions. She also served on the board of directors for the social impact projects, including establishing computer head of an initiative to re-engineer the bank’s branch Staten Island Economic Development Corp., the Long centers in India to educate rural women, and organizing network. Sisti serves her community as the treasurer Island City Partnership and the Staten Island Chamber of and sponsoring medical camps in underprivileged areas and a board member of the Washington Heights/Inwood Commerce. The New York Business Journal named Savas- in Punjab. In 2018, she received StrtupBoost’s 33 Under Development Corp., which helps entrepreneurs start new tano an honoree for its 2016 class of Women of Influence. 33 Award and CEO Connection named her one of its Most businesses in northern Manhattan. Influential Women of the Mid-Market.

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

Abby Parsonnet, Regional President, Metro New York Webster Bank

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 When leaders take charge, our middle market business in Metro New York. She’s also a leader in diversity and inclusion as people take note. 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.

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______DENISE SMYTH MAGDA SOUFFRONT EMILY STODDARD Senior vice president Vice president, marketing Middle market team lead— PNC REAL ESTATE manager New York City SAVOY BANK TD BANK

As a senior vice president with Magda Souffront helped Emily Stoddard focuses PNC Real Estate, found Savoy Bank in 2008 on growing TD Bank’s loan Denise Smyth is responsible and currently serves as its portfolio. She began her TD for developing and manag- vice president and marketing career as a customer service ing commercial real estate finance relationships. Her manager. A native of the Dominican Republic, Souf- representative. Now a senior leader, she’s passionate client portfolio includes real estate investment trusts and front moved to New York as a teenager with her family. about promoting women in leadership and co-sponsors private developers in the New York metro area. Smyth is She spent 32 years at Citibank, where she started as an a development program for top female talent in TD’s engaged in several initiatives dedicated to mentoring and account officer and climbed her way to vice president commercial bank. She is also a member of the Metro New furthering diversity at PNC. She is also involved with a in charge of branches. She left the firm in 2005 to help York Regional Diversity Council, co-leads the Metro New number of organizations outside the firm, including the establish Savoy Bank, a community financial institution York Women in Leadership Business Resource Group and Real Estate Lenders Association, Commercial Real Estate that focuses on local small businesses, particularly those serves on the boards of both the Boys and Girls Club of Finance Council Women’s Network, the Real Estate Net- owned by underserved members of the community. She North Westchester and WHOW (Women Helping Other working Trust and New York Women Executives in Real previously served on the board of the Washington Heights Women). Estate, where she serves on the scholarship committee. and Inwood Development Corporation.

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

Applaudingleaders with vision

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 Waldron Christine leads key business initiatives with commitment and clear vision. Senior Vice President, Her inspiring leadership and impressive industry knowledge help pave the Chief Global Strategy Officer, U.S. Bank Global Fund Services way for growth and continuous improvement at U.S. Bank.

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______CHRISTINE WALDRON ANNE WALKER YAEL WEINSTOCK- Senior vice president, Market president, SHEMESH chief global strategy officer New York City Division executive, Israeli U.S. BANK GLOBAL FUND BANK OF AMERICA business and hi-tech groups SERVICES BHI

As chief global strategy officer, As Bank of America’s mar- Yael Weinstock-Shemesh Christine Waldron executes ket president for New York joined BHI, the U.S. division key business initiatives for U.S. City, Anne Walker connects of Bank Hapoalim, in 2012. Bank’s Global Fund Services businesses and individuals Since then, she has helped unit. Her responsibilities range from strategy planning and with banking and investment services. She also serves as establish and oversee the Israeli Business Group, helping implementation to product development, business integra- the chief operating officer for the CFO Group, where she Israeli middle-market companies expand their operations tion and technology development. She also oversees U.S. works to streamline operations and enhance productivity, within the United States. She also established BHI-Tech, Bank’s registered fund transfer agency operations. In addi- driving future growth and providing better services for a specialized team focused on startups and technology tion to her work in finance, Waldron supports educational clients. Walker has advocated for diversity within the field companies operating within the U.S. Weinstock-Shemesh causes. She serves on boards for the Wisconsin Center for throughout her 20-plus years at Bank of America, serving is a board member of the Israeli-American Council and Gifted Learners and the Student Partner Alliance of New on the bank’s Global Diversity & Inclusion Council. previously served on the programming board of the Israe- Jersey, which provides mentoring and tuition assistance to Today, she oversees the deployment of Bank of America’s li Business Forum of New York. She has also served as a high-school students at private schools in urban areas of resources to help address social and economic concerns lieutenant in the Israeli Defense Force. the state. and strengthen communities.

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

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 COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______Making a difference

How women in finance find doing great work,” said Anne Clarke Wolff, head of global “I volunteered immediately for Accelerating into Lead- corporate banking and global leasing at Bank of America ership because that’s a real feeder system for women to ways to give back Merrill Lynch. “It’s about taking your job skills and apply- get to the next level of seniority inside the bank,” she ing them in a different setting.” said. “These are women who have strong educational backgrounds and are good Wolff sits on the board of subject-matter experts but When Maria Grasso was a young girl, she and her siblings the Brooklyn Historical may not know the best ways went door to door with their mother to collect money for Society. She’s also the acting to promote themselves.” the March of Dimes, which works to improve the health treasurer at the Public of mothers and babies. Theater, which provides Reyes also participates in Shakespeare in the Park’s “We were always raised to give back to the community,” Accelerating Female Lead- free outdoor performances Grasso said. ership, an HSBC mentor- in Central Park. She helps ship program that supports each organization consider When her own children were young, Grasso took them high-performing women to volunteer, even as she managed a busy career in how to achieve long-term through networking events, finance. Together, they worked in food banks, and her financial stability and via- coaching and skill-building. kids became involved with United Way of Long Island’s bility, raise funds and build Stuff-A-Bus program, which collects school supplies for an endowment. A culture of giving that underprivileged children. Like many corporations, inspires a new generation Congratulations Her children are grown now, but Grasso, the senior execu- financial services firms are The process of juggling tive vice president and chief operating officer at Flushing eager to support communi- careers, family and volun- Bank in New York City, continues to give back. She chairs ty organizations, and skilled teer activities gives female the United Way of Long Island’s board of directors, the first volunteers can help create those connections. leaders unique insight into what their firms and indus- woman to do so, and serves as a member of the national tries can do to make giving back a priority. Those efforts to Lori Calvasina For instance, Wolff helped bring Bank of America in as a board of the American Kidney Fund. inform their interactions with both their employers and partner at the Brooklyn Historical Society. Thanks to her the next generation of community-minded employees. Grasso’s story echoes those of many women in finance efforts, the bank sponsors “History Makers,” a lecture who have a deep history of giving back to their communi- series in which luminaries discuss important historical “Giving back feeds the souls of employees, and charitable ties while juggling their families and careers. Their work- figures. At one recent event, Yale historian David Blight organizations are without a doubt benefiting from the and Michal Katz place skills put female financial executives in a unique and Columbia University’s Andrew Delbanco sat down to skills we bring to bear, helping them survive and thrive,” position to help charitable organizations and to devote discuss Frederick Douglass. Wolff said. “The more the industry can connect organiza- time within their firms to helping female colleagues suc- tions doing great work with young executives who want ceed. What’s more, as they serve their communities, they On a more practical level, Bank of America has become to give back, the better.” At RBC Capital Markets, we are dedicated to building lead by example, encouraging a new community-minded the organization’s banking partner, providing advice and financial support. generation to join the industry and to start giving back In fact, Bank of America connected Wolff with the Public the strongest team to support our clients’ goals. themselves. Theater after she expressed interest in community in- Boosting other women We congratulate Lori Calvasina, Head of US Equity Juggling responsibilities Many successful female leaders volvement. donate their time to give other Female leaders in finance fre- “If I have the power to do this kind of work through and Strategy, and Michal Katz, Global Co-Head of “Giving back feeds the women a leg up. These executives quently wear many hats, balanc- with Bank of America, it makes me more excited to con- are well-positioned to under- ing a full workload and a home- souls of employees, and tinue working with them,” she said. Technology Investment Banking, on being named life. These women, accustomed stand the challenges women to multitasking, carve time out charitable organizations face in the workplace. They use As Wolff’s experience demonstrates, a culture of giving among Crain’s Notable Women in Banking and of their busy schedules to make are without a doubt their experience to help other back can become a powerful recruiting tool and a way giving back a priority. women enter the workforce and to retain top talent. Millennials in particular seek the Finance in NYC. Congratulations to the other benefiting from the skills get promoted into more senior flexibility to manage their own time so they can achieve “I think anyone who has a career recipients and all women who move our industry positions. personal aspirations, such as becoming involved in their or family always feels the need to we bring to bear, helping communities, Reyes says. juggle commitments and priori- Reyes has worked with women forward every day. them survive and thrive.” on both ends of this spectrum. ties,” said Diane Reyes, group gen- That makes opportunities to play a role in a variety of eral manager and global head of She sits on the board of the Grace Anne Clarke Wolff nonprofits a huge competitive advantage for firms willing global liquidity and cash manage- Institute, which offers support Bank Of America to offer them. Meanwhile, female executives can set an ment at HSBC. “You have to figure and training to low-income Merrill Lynch example of volunteerism and mentorship, thereby usher- out what works for you, and what women in the New York City area, ing in a new generation of givers. trade-offs you are willing to make, helping them achieve employ- to find time to give back.” ment and economic self-suf- Women in leadership positions can and should lead by ficiency through job training, example when it comes to nonprofit work, Grasso says. Like Grasso, many executives multitask by involving family counseling and placement services. “In a big organization, you can be a role model and show members in their charitable activities. When Reyes was fellow employees how to get out and volunteer them- treasurer for the Susan G. Komen New York Race for the At her own workplace, Reyes prepares women for promo- Cure, which raises money to help prevent and cure breast tion. “I have an interest in helping women advance in the selves,” she said. “We’re a community. When you set an cancer, her husband and children often joined her to walk workforce, and if I can contribute where I’m employed, example, it’s kind of contagious and people want to be or run in the organization’s races. it’s not only easier but makes my time here more mean- involved.” ingful,” she said. Leveraging skills and connections Ultimately a strong culture of giving back creates a rich Outside of the office, executives find ways to draw on As a sponsor of HSBC’s Accelerating into Leadership pro- exchange among women, financial firms and nonprofits. their financial skills and workplace connections to help gram, which helps develop the bank’s female leadership “When I talk with women colleagues, I do think that we feel nonprofits succeed. pipeline, Reyes helps women co-workers develop soft skills—such as strong communication habits—to help fortunate to have achieved everything we have,” Wolff said. rbccm.com “What makes you successful in your day job is really them take the next step and get promoted into senior “As a result, we feel the need to give back in a variety of ways This 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, powerful when you apply it to organizations that are positions. while learning and growing ourselves.” 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. 42 | CRAIN’S NEW YORK BUSINESS | MARCH 11, 2019

COPY EDITOR______COLD READER______WRITER______SENIOR EDITOR______FINAL______CN019040.indd 1 3/6/19 9:57 AM Congratulations to Lori Calvasina and Michal Katz

At RBC Capital Markets, we are dedicated to building the 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.

rbccm.com

This 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.

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