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Wednesday, September 18, 2013

The "Powerful" Mary Erdoes Gets Profiled, Twice

News summary by MFWire's editors

JP Morgan's [profile] Mary Callahan Erdoes is having a great week. First The Washington Post calls her a "quiet force in asset management" and then American Banker names her "the most powerful woman in finance."

The Washington Post's Dawn Kopecki writes that Erdoes, 46, showed a talent for managing money early on, helping her grandmother balance her checkbook. Now she oversees $2.2 trillion as chief executive of JPMorgan Asset Management, keeping a low profile in comparison to the more boisterous JP Morgan Chief Executive Jamie Dimon, Kopecki writes.

James Staley, who was head of asset management at JP Morgan as of 2009, said of Kopecki, "The private bank was a pretty demoralized place…Amid the sea of empty desks, this one young woman was always there."

American Banker's Maria Aspan writes that Erdoes is a "pillar of stability" at a company that has rotated executives through various parts of the business. She's also becoming more influential as asset management and more mass-market incarnations become more and more important to the banking industry as a whole, Aspan writes, and JP Morgan is leading the charge.

To read more, click here here and here.  

Edited by: Casey Quinlan


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