Vanity Fair UK - 11.2019

(sharon) #1

THE
MONEY CROWD
The rising generation of bankers, ntech pioneers,
and other masters of the nancial universe


5


ANTHONY NOTO
CEO, SoFi AGE: 51
Brought on to x SoFi’s “frat
house” culture, Noto used
his experience as an ex-Goldman
banker and Army Ranger
to whip the lending start-up into
shape. In May, SoFi closed
a $500 million funding round at
a $4.3 billion valuation.

6


JAMES GORMAN
CEO, Morgan Stanley, wealth
management rainmaker
AGE: 61 SALARY: $29 million
Gorman, an ex-McKinsey
management consultant,
continues to fortify Morgan
Stanley by growing its asset- and
wealth-management business,
surng a rising market that has
been a bonanza for the 0.1 percent.

7


BRIAN ARMSTRONG
CEO, Coinbase AGE: 36
NET WORTH: $1.3 billion
When the rest of us were trying
to gure out what bitcoin
was, Armstrong was building
the world’s most popular
cryptocurrency exchange
operator. With 20 million users
and more than $1 billion in
revenue, Coinbase is designed to
thrive in good times and bad;
last year, it raised $300 million at
an $8 billion valuation.

8


PAUL SINGER
Activist investor,
Elliott Management AGE: 75
Elliott, which has $35 billion
under management,
went on a spending spree in


  1. In August, Singer poached
    Goldman’s top activism
    banker, Steven Barg. Now he’s
    laid siege to AT&T.


9


CHRISTINE LAGARDE
European Central Bank
president AGE: 63
In a world of plunging interest
rates, the incoming ECB
president is another enemy in
Trump’s bellum omnium
contra omnes. But the former
IMF chairwoman has experience
scrapping on the world
stage. “Whenever the situation
is really, really bad,” she
says, “you call in the woman.”

10


ALLEN PARKER
CEO, Wells Fargo AGE: 64
Parker may be just the guy
to clean up the legal scandals
at the nation’s second
largest bank. Insiders wondered
if the interim executive was
up to the task, but an impressive
showing at the bank’s
shareholder meeting has some
board members talking
about keeping him permanently.

1


JEROME POWELL
Federal Reserve chair AGE: 66
The man Trump has labeled an
“enemy” is bent but not broken,
and he may be the only person
standing between the U.S.
economy and a global recession.

2


MARIANNE LAKE &
JENNIFER PIEPSZAK
JPMorgan heirs apparent
AGES: 50, 49
There’s a running joke at
JPMorgan Chase that
it’s always “another ve years”
until CEO Jamie Dimon
retires. But Lake, who runs the
bank’s consumer lending
business, and Piepszak, now
CFO, are very much in the
running to succeed him. And
rumor is Dimon wants to
shake things up—if he ever leaves.

3


DAVID SOLOMON
President and CEO, Goldman
Sachs AGE: 57 AKA: DJ D-Sol
After Solomon beat out
copresident Harvey Schwartz to
succeed Lloyd Blankfein, he
set out to pivot the investment
bank toward Main Street,
rolling out consumer-lending
product Marcus and a credit card
with Apple. Solomon also
happens to be the only bank CEO
to moonlight as a DJ. “He’s not
your grandmother’s banker,”
says Joanna Coles. “He’s funny.”

4


DAVID MCCORMICK
Co-CEO, Bridgewater AGE: 54
POWER SPOUSE: Dina Powell
McCormick has a rough-and-
tumble résumé: Ranger school,
Iraq, Princeton, McKinsey.
And then there were the Bush
years. But taking over
Bridgewater Associates, with
$160 billion under management,
under the watchful eye
of founder Ray Dalio, may be
an even bigger test.

‹
Jerome
Powell

Most Assets
Under
Management

Unoficial Private Equity Power Ranking
Ê 1. The Blackstone Group 2. The Carlyle Group 3. KKR 4. Warburg Pincus 5. Bain Capital 6. Apollo Global Management 7. TPG Capital

$6.8 trillion

BLACKROCK

$5.2 trillion

VANGUARD

$2.5 trillion

CHARLES SCHWAB

$2.72 trillion

JPMORGAN

$2.81 trillion

STATE STREET

$2.46 trillion

FIDELITY
‘
David
McCormick

’
Jennifer
Piepszak

•
Marianne
Lake

82


PHOTOGRAPHS: FROM LEFT, BY BILL CLARK/CQ ROLL CALL, FROM JPMORGAN CHASE & CO., BY ABHIJIT BHATLEKAR/MINT, ANDREW HARRER/BLOOMBERG, ANDREW HARRER/BLOOMBERG, PASCAL LE SEGRETAIN, FROM GETTY IMAGES ¡ALL EXCEPT PIEPSZAK¤
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