Who are the most influential on Wall Street?
Power is an elusive commodity on Wall Street. Once you get it, it's hard to keep it. For proof, we turn to the third annual Bloomberg Markets list of 50 Most Influential people in finance, which will be published in October.
This year, 36 of the 50 are new to the list. And only seven have been on it all three years, led by the likes of Goldman Sachs CEO Lloyd Blankfein, JPMorgan Chase CEO Jamie Dimon and Blackrock CEO Larry Fink.
On the bankers list, only one other CEO of a top U.S. bank made it: John Stumpf, of Wells Fargo. He is joined, notably by two high-ranking women, including the perennially powerful Ruth Porat, CFO of Morgan Stanley, who made the list while her boss, CEO James Gormsan, did not. Isabelle Ealet co-head of securities at Goldman Sachs, said to be the highest-ranking female executive at the bank, also graced the list. The CEOs of bank of America and Citigroup were left out.
On the buyside, Mary Erdoes CEO JPMorgan Asset Management, joined the likes of Fink, Carl Icahn, Leon Black of Apollo, Daniel Loeb, and Stephen Schwarzman. KKR was not represented in this group.
All in all, ranking power brokers is a fun parlor game that in the end doesn't count for much.
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