by Wall Street Job Report on May 25, 2012
The financial crisis and its aftermath have been brutal for Wall Street’s richest and most powerful women. The latest casualty: Ina Drew, the head of JPMorgan Chase’s chief investment office, who departed last week after the bank suffered mammoth trading losses.
An analysis by Reuters of the proxy statements from the five largest U.S. banks shows that of the 25 executives whose pay is disclosed – updated for some recent changes – only three, or 12 percent, are women. That’s down from five, or 20 percent, at the end of 2007.
At the three biggest banks – JP Morgan Chase & Co (JPM.N), Bank of America Corp (BAC.N) and Citigroup Inc (C.N) – there is now only one woman in the upper echelons: JP Morgan Chase’s asset management chief, Mary Callahan Erdoes. At the end of 2007 there were two.