Deutsche’s Jain tops EU power list
DEUTSCHE Bank’s investment banking chief Anshu Jain has topped a power list of the 100 most influential people in European financial markets.
Jain was named by Financial News as the most powerful financial individual in Europe, beating his own boss – Deutsche’s chief executive Josef Ackermann – into sixth place.
This year’s list contains a more prominent cache of regulatory chiefs, as discussions continue over how best to supervise the markets to prevent a repeat of the global financial crisis. Financial Stability Board chairman and Bank of Italy governor Mario Draghi came in second place behind Jain, while Bank of England governor Mervyn King holds this year’s fifth spot and Financial Services Authority chief executive Hector Sants comes in 16th.
Bank chief executives also ranked highly, with Credit Suisse boss Brady Dougan in third place and UBS’ Oswald Gruebel and Barclays’ John Varley also featuring in the top 10.
However, only four women managed to secure a place on the 100-strong list despite ongoing efforts to promote equal opportunities for female professionals working in the traditionally testosterone-dominated financial markets. Of those four, the highest-ranking woman was Sharon Bowles, chair of the European Parliament’s economic and monetary affairs committee, who came in some way down the list in position 65.
She was followed by Axa Private Equity chief Dominique Senequier; Jeannie Drake, chair of the Personal Accounts Delivery Authority and trustee of the Alliance & Leicester and O2 pension schemes; and Niki Beattie, founder of Market Structure Partners.
Dropping off the list this year are a number of former hotshots of the European financial world. Michael Geoghegan, chief executive of HSBC, no longer features due to his relocation to Hong Kong, while last year’s top-ranked individual also fails to get a mention in 2010. Bill Winters, the ex-boss of investment banking at JP Morgan, was ousted from the bank in September last year. He returned to a high profile role last month as a member of the UK’s independent commission on the banking industry.