Last week Forbes published its annual rating of the ‘World’s Most Powerful People’, based on an internal editorial vote. Russian President Vladimir Putin topped the list for the third year in a row, ahead of Germany’s Chancellor Angela Merkel in second place and US President Barack Obama in third.
Besides leading politicians, the list of 73 individuals includes bankers and finance professionals, who are making a great impact in the modern world. In this sub-category, the winner is a woman, US Federal Reserve Chair Janet Yellen.
Forbes considers hundreds of candidates from various spheres and bases its decision on four criteria.
In compiling their list, Forbes considers hundreds of candidates from various spheres and bases its decision on 4 main criteria: how much influence the person wields over the global population, how successful he/she executes their influence, the financial status of the candidate, and the number of spheres the individual has power over,
So without further ado, here are the world’s most powerful and influential figures in banking and finance:
#1 (#7 overall)
Janet Yellen, Chair, Federal Reserve, USA
The first female head of the Fed in history, Yellen is so influential that even when she coughed during a recent speech at University of Massachusetts, it led to a short-term selloff in the S&P 500, as investors speculated on the banker’s health. She is also the proud wife of George Akerlof, a Nobel Laureate in economics.
#2 (#11 overall)
Mario Draghi, President, European Central Bank
Nicknamed “Super Mario” for his list of achievements in Italian politics, the banker has become known worldwide after launching QE measures in 2015 to fight deflation, an offshoot from the European credit crisis.
#3 (#13 overall)
Warren Buffett, CEO, Berkshire Hathaway
The 83-year-old Berkshire Hathaway Inc. chairman has been the world’s richest man (now second richest) for the better half of the last decade, thanks to major takeovers by his holding company, the fourth largest in the US. Buffett’s investments have resulted in a more than $60 billion personal fortune.
#4 (#20 overall)
Jamie Dimon, CEO of JP Morgan Chase
Obama’s “favorite banker” and a recent throat cancer survivor, Jamie Dimon, has been skillfully navigating his bank since taking over in 2005. He is one of the few bank CEOs that survived the 2008-2009 and remains at the helm of his bank.
#4 (#23 overall)
Christine Lagarde, Managing Director, International Monetary Fund
A successful lawyer and an ex-Minister of Finance of France, Lagarde is the first woman to govern the IMF and is considered by many admirers as one of the most efficient antic-crisis managers of our time. She has been uncompromising in her approach towards struggling Greece since taking over the reigns at the lending institution in July 2011.
#6 (#26 overall)
Lloyd Blankfein, CEO, Goldman Sachs Group
A fabulous example of a self-made man, Blankfein grew up in the projects in the Bronx and managed to get a degree from Harvard University. His overall wealth for now has reached $1.1 billion since his bank’s IPO, and equities have increased fourfold.
#7 (#34 overall)
Larry Fink, CEO and Co-Founder, BlackRock
Having led the world’s largest asset-management firm since 1988, Laurence (Larry) Fink transformed the boutique fixed income shop into a global asset manager that oversees more nearly $5 trillion in assets.
#8 (#44 overall)
Michael Bloomberg, CEO, Bloomberg
One of the richest men in the world, Bloomberg served as the mayor of New York three times, and the city thrived under his governance. A descendant of Belorussian immigrants, he started his career at Salamon Brothers where he was responsible for informational systems. In 1981, he founded Bloomberg LP where innovative IT technologies were united with economy analysis. Today Bloomberg’s empire is the leading financial news provider in the world.
#9 (#45 overall)
Jim Yong Kim, President, World Bank
An American physician and anthropologist, Kim is the only one in our top who doesn’t have a financial background. However, the global health leader has successfully served as the 12th President of the World Bank since 2013.