In a May Barron’s column, she covers 10 themes that will define the future of wealth management. “It’s a real testament to the people who are not always celebrated,” says Erdoes, who joined JPMorgan Chase in 1996 and has held her current role for 11 years. When the signal went out last spring to go home to work, Erdoes mobilized 25,000 employees in her division to make a quick switch to remote working. It has delivered double-digit revenue growth and record client acquisition annually since Liu took its helm. That business advises ultrahigh net worth clients on about $550 billion in assets. Liu has been in this position since May 2019, leading private banking activities across the U.S. “We have built such a strong team culture that it really has allowed us to thrive,” she says. She is ranked fifth on this year’s list of Top 100 advisors for 2021. Karen McDonald, financial advisor and managing director at Morgan Stanley Wealth Management.ĭespite the unique challenges presented by the pandemic, McDonald’s team’s assets and revenue rose about 35% in 2020. That’s particularly important for younger traders or new investors, she says. Sonders says she is “always trying to weave in a basis of history” when addressing investors. Liz Ann Sonders, chief investment strategist, Charles Schwab Louis, became a principal, and climbed the ladder, taking over the client strategies group in 2015. She eventually moved to corporate headquarters in St. Pennington spent 14 years in corporate banking before joining Edward Jones as a financial advisor in Michigan in 2000. Penny Pennington, managing partner, Edward Jones While Harris isn’t logging as many business travel miles as she was before the pandemic, she has been using some of her found time to finish up her third book, release an album of Christmas songs, and grow Morgan Stanley’s accelerator for start-ups, the Multicultural Innovation Lab. Says Cohen: “We’re just getting started.”Ĭarla Harris, vice chairman, global wealth management, senior client advisor, Morgan Stanley. The consumer business at Goldman generated $1.2 billion in revenue last year and the division overall took in $6 billion, or 13% of Goldman’s total. Stephanie Cohen, co-head of consumer and wealth management at But there’s something different about going through volatility at a start-up that is not yet profitable.” The past year was “easily the most stressful of my career,” Krawcheck says, “and I say that having gone through at large financial institutions. Sallie Krawcheck, CEO and founder of digital investing platform Ellevest. This isn’t a quantitative ranking, rather a qualitative look at 10 women who had significant impact on the world of wealth management in the past year: Bottom row: Karen McDonald, Ida Liu, Mary Callahan Erdoes, Gunjan Kedia, Christine Benz. She donated the proceeds to two high schools.Top row: Sallie Krawcheck, Stephanie Cohen, Carla Harris, Penny Pennington, Liz Ann Sonders. In 2006, Harris released her second album, entitled Joy is Waiting. The album was featured on The Evening News with Dan Rather and was one of the top selling albums on in New York City. Harvard’s Black Men’s Forum named her Woman of the Year in 2004.Īs a gospel singer, in 2000, Harris performed a solo concert at Carnegie Hall and released her first album, Carla’s First Christmas. Essence magazine named her among The 50 Women Who are Shaping the World. Black Enterprise named her one of the Top 50 African Americans on Wall Street. Harris has been named by Fortune magazine among The 50 Most Powerful Black Executives in Corporate America. And, for more than a decade, she was a senior member of the Equity Syndicate desk, where she executed such transactions as initial public offerings for UPS, Martha Stewart Living Omnimedia, and the $3.2 billion common stock transaction for Immunex Corporation, the largest biotechnology follow-on offering in U.S. She is also the active chair of the firm’s Private Placement Commitment Equity Committee. She is responsible for the structuring, marketing and execution of public and private equity financings. She has become Managing Director in Global Capital Markets for the firm. In 1987, Harris began her career as an investment banker at Morgan Stanley in the Mergers & Acquisitions department. While at Harvard, she sang with the world renowned Radcliffe Chorale Society, the oldest women’s singing group at Harvard and in her own band called Rhythm Company. degree in business administration from Harvard Business School. degree in economics and received her M.A. After high school graduation, Harris left Jacksonville and entered Harvard University where she graduated magna cum laude with her A.B. Harris began singing at an early age, and by the time she was thirteen years old, she was singing in both Catholic and Baptist choirs. Investment banker Carla Ann Harris was born on October 28, 1962, in Port Arthur, Texas.
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