CONTACT: Laura Peavey(202) 457-8770lpeavey@fsforum.comFinancial Services Forum Congratulates Jonathan Gould on Confirmation as Comptroller of the CurrencyWashington D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement today after the Senate confirmed Jonathan Gould as the Comptroller of the Currency:“The Forum congratulates Jonathan Gould on his confirmation to lead the Office of the Comptroller of the Currency (OCC). Mr. Gould’s experience and leadership in the financial sector, including his role as Senior Deputy Comptroller and Chief Counsel at the OCC, will be instrumental in maintaining the safety and soundness of our banking system. The Forum commends President Trump and the Senate for their action to fill this important position.“Forum members, America’s largest and most diversified financial institutions, are integral to supporting economic growth, fostering financial stability, and providing critical banking services to customers across the country. The Forum looks forward to working with Comptroller Gould and his team to advance policies that support consumers, businesses of all sizes, and America’s communities.”###The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States.&nbsp; Forum member institutions are a leading source of lending and investment in the United States and serve&nbsp;millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system. Visit our website:&nbsp;<a href="http://www.fsforum.com/">fsforum.com</a>Follow us on X&nbsp;<a href="https://twitter.com/fsforum">@fsforum</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/company/financial-services-forum/">LinkedIn</a>

Press Releases

Financial Services Forum Congratulates Jonathan Gould on Confirmation as Comptroller of the Currency

Contact: Laura Peavey&nbsp;&nbsp;(202) 457-8770&nbsp;lpeavey@fsforum.comForum Welcomes Proposal to Refine Large Bank Supervisory Ratings“Reforms will not only strengthen the oversight of large financial institutions, but also promote greater confidence among investors, consumers, and the broader economy.”Washington D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement today after the Federal Reserve Board issued a proposal to refine the Large Financial Institution rating system:"This is a welcome development to help focus supervision on material, financial risks and create a better balance with the assessment of overall large bank management.“Supervisory ratings for the largest banks should better reflect the quality of their capital and liquidity, as those measures are key to the strength and resilience of these institutions. We commend the Federal Reserve for its commitment to improving the supervisory landscape and for recognizing the importance of a properly focused and balanced rating system. Reforms will not only strengthen the oversight of large financial institutions, but also promote greater confidence among investors, consumers, and the broader economy.“We look forward to reviewing the proposal in detail and providing our comments.”###The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States.&nbsp; Forum member institutions are a leading source of lending and investment in the United States and serve&nbsp;millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system. Visit our website:&nbsp;<a href="http://www.fsforum.com/">fsforum.com</a>Follow us on X&nbsp;<a href="https://twitter.com/fsforum">@fsforum</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/company/financial-services-forum/">LinkedIn</a>&nbsp;

Forum Welcomes Proposal to Refine Large Bank Supervisory Ratings

CONTACT:&nbsp;Barbara Hagenbaugh(202) 457-8783bhagenbaugh@fsforum.comForum Names Amanda Eversole President and Chief Executive OfficerWASHINGTON, D.C. – The Financial Services Forum announced today that Amanda Eversole has been named President and Chief Executive Officer (CEO). Eversole succeeds Kevin Fromer, who recently announced his plans to depart the organization after eight years as President and CEO.&nbsp;In her new role, Eversole will be responsible for advancing the Forum’s vision for the eight leading U.S. banks and promoting policies that enable member firms to continue to drive growth and competitiveness, lend trillions to consumers and businesses, and remain the safest and strongest financial institutions in the world.“Amanda is a strategic leader with a strong track record of delivering results amid times of change. Her experience and skills will help take the Forum to a new level – ensuring the organization is not only leading in financial policy debates, but also elevating our members’ unique and important role in America’s economy,” said Jane Fraser, Citi CEO and Chair of the Forum’s Board of Directors.&nbsp;Eversole will join the Forum from the American Petroleum Institute (API) where she currently serves as Executive Vice President &amp; Chief Advocacy Officer, leading the communications, federal and state government relations, and public affairs departments, as well as the organization’s overall integrated advocacy efforts. During her tenure at API, Eversole served as Chief Operating Officer where she led development of API’s strategic plan, oversaw membership during historic changes within the industry, and revitalized and streamlined API’s business operations.&nbsp;“Throughout my career, I have focused on leading at the intersection of business, policy and advocacy — bringing together CEOs, government leaders and key stakeholders to tackle significant public policy issues with long-term, durable solutions. This is a critical moment for the industry and our customers, and I’m honored to lead the Forum in its next chapter,” said Eversole.Prior to joining API, Eversole served as Managing Director and Head of Public Affairs at JPMorganChase, a function she created and built for the firm. She will also bring an extensive background working with policymakers to her new role, having spent 13 years at the U.S. Chamber of Commerce in various capacities including President of the Chamber Technology Engagement Center and Senior Vice President of the U.S. Chamber Center for Capital Markets Competitiveness, a program she helped launch. An alumna of William &amp; Mary, Eversole currently serves on the school’s Business School Foundation Board. She earned her M.B.A. from the University of Pennsylvania’s Wharton School where she was a Palmer Scholar.###The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system. Visit our website:&nbsp;<a href="http://www.fsforum.com/">fsforum.com</a>Follow us on X&nbsp;<a href="https://twitter.com/fsforum">@fsforum</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/company/financial-services-forum/">LinkedIn</a>

Forum Names Amanda Eversole President and Chief Executive Officer 

CONTACT:&nbsp;Barbara Hagenbaugh(202) 457-8783bhagenbaugh@fsforum.comForum CEO Announces DepartureWashington, D.C. – Financial Services Forum President and CEO Kevin Fromer announced today he plans to depart the organization. He will continue to lead the Forum until a successor is named.Over the past eight years, Fromer has revitalized and refocused the association on behalf of the nation’s eight leading financial institutions to demonstrate their value throughout the economy, educate policymakers about their key priorities, and amplify their direct advocacy as authoritative and reliable industry voices.“I joined the Financial Services Forum nearly eight years ago determined to elevate the understanding and influence of America’s eight leading banks, and to build bipartisan support for policy that would strengthen their ability to serve their customers and fuel the American economy. We have delivered on these goals, with particular impact on major capital rules, including Basel III Endgame. Leading this work, and my excellent team, has been an honor, and now is the appropriate time to welcome another leader who will build on the organization’s tremendous success,” Fromer said.“Under Kevin's leadership, the Forum has been a driving force in uniting our industry and strengthening our voice – providing critical guidance as we all navigated challenges including the regional banking crisis and advocated for revisions to Basel III Endgame. We wish Kevin well as he embarks on his next chapter, and we look forward to building on his vision for the future of the Forum,” said Jane Fraser, Citi CEO and Chair of the Forum’s Board.&nbsp;Fromer joined as Forum President and CEO in 2017. Previously, he was Executive Vice President and Head of Public Affairs for HSBC North America Holdings, and senior advisor to the chief executive of Legg Mason Global Asset Management. Before moving to the private sector, Fromer spent two decades in the U.S. federal government, including as the Senate-confirmed Assistant Secretary of the Treasury for Legislative Affairs.###The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system. Visit our website:&nbsp;<a href="http://www.fsforum.com/">fsforum.com</a>Follow us on X&nbsp;<a href="https://twitter.com/fsforum">@fsforum</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/company/financial-services-forum/">LinkedIn</a> &nbsp;&nbsp;

Forum CEO Announces Departure

Contact: Laura Peavey&nbsp;&nbsp;(202) 457-8770&nbsp;lpeavey@fsforum.comStress Test Results Confirm Capital Strength of America’s Largest Banks“Forum members have once again proven they are strong, resilient, and can continue to support customers and communities even in the face of a significant economic downturn.”Washington D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement today in response to the Federal Reserve Board’s 2025 stress test results:“Today’s results confirm the strong capital positions of the largest U.S. banks.“For over ten years, the largest banks in the nation have consistently demonstrated that their capital levels far surpass the hypothetical losses projected by the Federal Reserve. Forum members have once again proven they are strong, resilient, and can continue to support customers and communities even in the face of a significant economic downturn.“We look forward to the Federal Reserve’s review of capital requirements to help ensure banks can support a strong American economy while maintaining safety and soundness. Further, we appreciate that the Federal Reserve has committed to establish the same transparency and public accountability in the stress tests that are provided for all other capital requirements.”View related&nbsp;<a href="https://fsforum.com/issues/issue-stress-tests">content</a>&nbsp;from the Forum on stress testing.Background:Since 2009, America’s largest banks have tripled their Common Equity Tier 1 capital, the highest quality capital that acts as a buffer against losses.<figure class="image image_resized" style="width:71.77%;"><img src="https://fsforum.com/a/media/cet-1-pic.png"><figcaption>Source: FR Y-9C data, https://www.ffiec.gov/npw/FinancialReport/FinancialDataDownload</figcaption></figure>###The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States.&nbsp; Forum member institutions are a leading source of lending and investment in the United States and serve&nbsp;millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system. Visit our website:&nbsp;<a href="http://www.fsforum.com/">fsforum.com</a>Follow us on X&nbsp;<a href="https://twitter.com/fsforum">@fsforum</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/company/financial-services-forum/">LinkedIn</a>

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Each year, the Federal Reserve tests the ability of large banks to continue to support the economy even in the face of a severe recession far worse than that experienced during the financial crisis.

Multiple hypothetical stress tests, as well as the real-life stress tests of the pandemic and the 2023 regional banking turmoil, have shown that the largest U.S. banks can – and do – act as a bulwark for the economy and the financial sector.

Stress Tests

Stress Test Results Confirm Capital Strength of America’s Largest Banks

Contact: Laura Peavey&nbsp;&nbsp;(202) 457-8770&nbsp;lpeavey@fsforum.comForum Applauds Efforts to Improve Functioning of Vital Treasury Markets&nbsp;“Forum appreciates regulators taking the first step to ensure the leverage ratio works for the American economy, not against it.”Washington D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement after federal regulators released a proposal to update leverage capital requirements:“Addressing longstanding issues caused by outdated leverage capital requirements benefits taxpayers and strengthens the U.S. economy. For years, policymakers across the ideological spectrum have raised concerns regarding the negative impact of this requirement on the U.S. Treasury market—which underpins every other financial asset in the world. Through improvements in leverage capital requirements, America’s leading banks will be better able to support market functions that impact Main Street businesses and consumers across the country. While we look forward to fully reviewing the proposal and providing comprehensive feedback, the Forum appreciates regulators taking the first step to ensure the leverage ratio works for the American economy, not against it.”Read our bank leverage capital requirements fact sheet <a href="https://fsforum.com/a/media/leverage-capital-requirements-factsheet.pdf">here</a>. &nbsp;###The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.Visit our website: <a href="http://www.fsforum.com/">fsforum.com</a>Follow us on X <a href="https://twitter.com/fsforum">@fsforum</a> and <a href="https://www.linkedin.com/company/financial-services-forum/">LinkedIn</a>

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Increases in capital requirements would harm American households, businesses, and the broader economy. Regulators must carefully consider the economic impact of higher capital requirements, because they affect the whole economy, not just banks.

Capital, other topics

Forum Applauds Efforts to Improve Functioning of Vital Treasury Markets

Financial Associations Recommend Key Changes to Federal Reserve Stress Capital Buffer ProposalWashington D.C. – The Financial Services Forum and American Bankers Association today commented on changes proposed by the Federal Reserve Board (FRB) to reduce volatility in capital requirements caused by the stress capital buffer (SCB) framework. The proposal provides two-year averaging of an institution’s SCB and a new annual effective date—changes that would address year-to-year volatility in capital requirements for banks subject to the stress test regime.&nbsp;“We appreciate the FRB’s efforts to reduce volatility of SCB requirements through the Proposal and welcome it as a useful first step in the FRB’s previewed amendments to the broader stress testing framework,” the associations stated.The associations offered several key recommendations:<ol><li>Effective Date: Implement the revised SCB rule on January 1, 2026, while allowing banks to continue operating under the current framework through September 30, 2026.</li><li>Asymmetric Averaging: Introduce a two-year asymmetric averaging method to ease the impact of rising capital requirements.</li><li>Dividend Add-On: Remove the dividend add-on component, as existing regulations already govern distribution payments.</li></ol>The full letter can be found <a href="https://fsforum.com/a/media/joint-trades-scb-letter.pdf">here</a>. Media Contacts:Laura PeaveyFinancial Services Forum<a href="mailto:lpeavey@fsforum.com">lpeavey@fsforum.com</a>Josh BrittonAmerican Bankers Association<a href="mailto:jbritton@aba.com">jbritton@aba.com</a>About Financial Services ForumThe Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.About American Bankers AssociationThe American Bankers Association is the voice of the nation’s $24.5 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.5 trillion in deposits and extend $12.8 trillion in loans.

Financial Associations Recommend Key Changes to Federal Reserve Stress Capital Buffer Proposal

Contact: Laura Peavey&nbsp;&nbsp;(202) 457-8770&nbsp;lpeavey@fsforum.comForum Statement on Federal Reserve’s Removal of Reputation RiskWashington, D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement after the Federal Reserve Board announced it will no longer consider reputation risk in its supervision of banks:“Today’s announcement by the Federal Reserve is another important step toward focusing bank supervision on material financial risk. This, taken with the action by other financial regulators, will help to foster a more transparent and effective supervisory framework. We look forward to continuing to work with the Administration and Congress to identify solutions that allow America’s leading banks to continue to best serve their customers.”###The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States.&nbsp; Forum member institutions are a leading source of lending and investment in the United States and serve&nbsp;millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system. Visit our website:&nbsp;<a href="http://www.fsforum.com/">fsforum.com</a>Follow us on X&nbsp;<a href="https://twitter.com/fsforum">@fsforum</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/company/financial-services-forum/">LinkedIn</a>

Forum Statement on Federal Reserve’s Removal of Reputation Risk

Contact: Laura Peavey&nbsp;&nbsp;(202) 457-8770&nbsp;lpeavey@fsforum.comNew Report Highlights Growing Burden of U.S. GSIB Surcharge on American EconomyWashington D.C. – The Financial Services Forum today released a research paper analyzing the growing capital surcharges imposed on U.S. global systemically important banks (GSIBs) and the broader implications for the financial system and economy.A GSIB score is intended to measure how much systemic risk a bank poses to the financial system. The higher the score, the more capital the bank must maintain. While capital is intended to absorb losses, the paper highlights how unnecessarily high capital requirements have been shown to limit U.S. banks’ ability to lend and to compete with their international peers who face lower requirements—ultimately harming American consumers and businesses.Key Findings:<ol><li>Rising GSIB Surcharges: The analysis shows that capital surcharges for U.S. GSIBs have continued to increase, largely driven by growth in safe assets such as bank reserves and U.S. Treasuries.</li><li>Uneven Global Standards: Unlike their international counterparts, U.S. GSIB scores are not adjusted for overall financial system growth, resulting in disproportionately higher scores and surcharges for U.S. banks.</li><li>Economic Implications: Without reform, GSIB scores and surcharges are expected to continue rising, potentially constraining bank lending and posing broader economic challenges.</li></ol>The paper’s findings call for a reassessment of the GSIB scoring methodology to ensure it accurately reflects systemic risk and promotes a level playing field for U.S. financial institutions and the customers they serve.Read the full paper <a href="https://fsforum.com/a/media/gsib_paper_6.2.25.pdf">here </a>and an accompanying blog <a href="https://fsforum.com/news/to-infinity-and-beyond-the-supply-of-safe-assets-and-gsib-capital-surcharges">here</a>.###The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States.&nbsp; Forum member institutions are a leading source of lending and investment in the United States and serve&nbsp;millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system. Visit our website:&nbsp;<a href="http://www.fsforum.com/">fsforum.com</a>Follow us on X&nbsp;<a href="https://twitter.com/fsforum">@fsforum</a>&nbsp;and&nbsp;<a href="https://www.linkedin.com/company/financial-services-forum/">LinkedIn</a>

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The Forum supports a review of the GSIB surcharge, a capital requirement that was agreed to internationally, but that U.S. regulators have implemented in a manner that places higher requirements on U.S. banks than that required of foreign competitors. 

Federal regulators have failed to review and adjust the calculation of the surcharge to reflect the inflationary effects of overall economic growth, as they indicated it would when the GSIB surcharge rule was enacted in 2015. Since that time, the surcharges for U.S. GSIBs have increased in large part due to economic growth and inflation, which in no way suggests heightened systemic risk.


GSIB Surcharge 

New Report Highlights Growing Burden of U.S. GSIB Surcharge on American Economy

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Citigroup

Jane Fraser is the Chief Executive Officer of Citi, the world's most global bank, serving millions of consumers, businesses and institutions across 160 countries and jurisdictions. She is the first female CEO in the firm’s history. Jane has deep experience across Citi’s consumer and institutional businesses and, in many ways, she helped shape Citi into the company it is today. Before becoming CEO in February 2021, she was President of Citi and CEO of the Global Consumer Bank, responsible for all of Citi’s Consumer businesses, including Retail Banking and Wealth Management, Credit Cards, Mortgage and Operations and Technology in 19 markets. Before that, she was the Chief Executive Officer of Citigroup Latin America from 2015 to 2019. From 2013 to 2015, she was the Chief Executive Officer of the U.S. Consumer and Commercial Banking and CitiMortgage. From 2009 to 2013, Jane served as the Chief Executive Officer of Citi's Global Private Bank. Prior, Jane was the Global Head of Strategy and Mergers &amp; Acquisitions for Citi from 2007 to 2009. She joined Citi in 2004 in the Corporate and Investment Banking division. Before joining Citi, Jane was a Partner at McKinsey &amp; Company. She started her career at Goldman Sachs in the Mergers &amp; Acquisitions department in London and then worked for Asesores Bursátiles in Madrid, Spain. Jane serves as a Board Member for the Business Roundtable and the Council on Foreign Relations. She is Vice Chair for the Partnership for New York City and a member of Harvard Business School’s Board of Dean’s Advisors, the Stanford Global Advisory Board and the Economic Club of New York. Jane has an M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University. She is married with two children.

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Jane Fraser

Citigroup Chief Executive Officer, Forum Chair

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BNY 

Robin Vince is President and Chief Executive Officer of BNY and a member of its Board of Directors. Previously, he was Vice Chair of BNY and CEO of Global Market Infrastructure. In that role, he oversaw BNY’s Clearance and Collateral Management, Treasury Services, Markets and Execution Services and Pershing businesses. Prior to joining BNY in October 2020, Robin was the Chief Risk Officer of Goldman Sachs and a member of the Management Committee. He joined Goldman Sachs in 1994 and held many leadership roles, including Treasurer, Head of Operations, Head of Global Money Markets, COO of the EMEA region and CEO of Goldman Sachs International Bank, among others. He served on several key subsidiary boards and governance committees. He was named managing director in 2002 and partner in 2006. Robin is a member of National Geographic Society's Hubbard Council and serves on the Board of Advisors of The Hospital for Special Surgery.

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Robin Vince 

BNY Chief Executive Officer, Forum Vice Chair

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Bank Of America

Brian Moynihan leads a team of more than 200,000 employees dedicated to making financial lives better for people, companies of every size, and institutional investors across the United States and around the world. Bank of America is recognized as a top employer by Working Mother magazine and Military Times. The company is also listed on Fortune magazine’s list of the Best Workplaces for Diversity and the Best Workplaces for Parents. It was also named one of the Best Places to Work for Disability Inclusion by the U.S. Business Leadership Network and the American Association of People with Disabilities. In 2018, Euromoney recognized Bank of America as the World’s Best Bank and the World’s Best Bank for Diversity and Inclusion, as part of their annual Global Awards for Excellence. Bank of America was also named the 2019 Catalyst Award winner, honored for supporting the continued development, empowerment and advancement of women in the company and around the world. Moynihan participates in several organizations that focus on economic and market trends, including the World Economic Forum International Business Council, the Financial Services Forum, the Bank Policy Institute (chair), the Business Roundtable, and the American Heart Association CEO Roundtable (co-chair). He is also a member of the Federal Advisory Council of the Federal Reserve Board. Moynihan leads the company’s Global Diversity and Inclusion Council and is a member of the museum council for the Smithsonian’s National Museum of African American History and Culture. Moynihan is also a member of the Brown University Corporation’s Board of Fellows and the Congressional Medal of Honor Foundation Board.

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Brian Moynihan

Bank Of America Chairman Of The Board And Chief Executive Officer

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The Goldman Sachs Group, Inc.

David Solomon is Chairman and Chief Executive Officer and a member of the Board of Directors of The Goldman Sachs Group, Inc. Previously, he was President and Chief Operating Officer and prior to that, he served as Co-Head of the Investment Banking Division from 2006 to 2016. Before that, Mr. Solomon was Global Head of the Financing Group, which includes all capital markets and derivative products for the firm’s corporate clients. He joined Goldman Sachs as a Partner in 1999. Mr. Solomon is a member of the Board of Trustees of Hamilton College and serves on the board of The Robin Hood Foundation.

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David Solomon

The Goldman Sachs Group, Inc. Chairman and Chief Executive Officer

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JPMorganChase 

Jamie Dimon is Chairman of the Board and Chief Executive Officer of JPMorganChase, a global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers, small business, commercial banking, financial transaction processing and asset management. Dimon became CEO on January 1, 2006 and one year later also became Chairman of the Board. He was named President and Chief Operating Officer upon the company’s merger with Bank One Corporation on July 1, 2004. Dimon joined Bank One as Chairman and CEO in 2000. Dimon began his career at American Express Company. Next, he served as Chief Financial Officer and then President at Commercial Credit, which made numerous acquisitions and divestitures, including acquiring Primerica Corporation in 1987 and The Travelers Corporation in 1993. Dimon served as President and Chief Operating Officer of Travelers from 1990 through 1998 while concurrently serving as Chief Operating Officer of its Smith Barney Inc. subsidiary before becoming co-Chairman and Co-CEO of the combined brokerage following the 1997 merger of Smith Barney and Salomon Brothers. In 1998, Dimon was named President of Citigroup Inc., the global financial services company formed by the combination of Travelers Group and Citicorp. Dimon earned his bachelors degree from Tufts University and holds an MBA from Harvard Business School. He serves on the boards of directors of a number of non-profit institutions including the Clearing House and Harvard Business School. Additionally, he is the Chairman of the Business Roundtable and serves on the executive committee of the Business Council and the Partnership for New York City, and is a member of the Financial Services Forum, Financial Services Roundtable and Council on Foreign Relations.

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Jamie Dimon

JPMorganChase Chairman And Chief Executive Officer

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Morgan Stanley

Edward (Ted) Pick is the Chief Executive Officer of Morgan Stanley.Before becoming CEO in 2024, Mr. Pick served as Morgan Stanley's Co-President, Co-Head of Firm Strategy and Head of the Institutional Securities Group, overseeing Investment Banking, Equities, Fixed Income, Global Capital Markets and Research.&nbsp;In previous roles, Mr. Pick was Global Head of Sales and Trading, engineering a turnaround of the firm’s Fixed Income Division. As Head of Institutional Equities, he led that business to a leading global position. He also served as Head of Equity Capital Markets, helping the firm actively raise capital during the financial crisis.&nbsp;Mr. Pick joined Morgan Stanley in 1990 and was promoted to Managing Director in 2002. He is a member of the firm’s Board of Directors (2024), Operating Committee (2012), Management Committee (2008) and Morgan Stanley-MUFG Steering Committee (2013).Mr. Pick graduated Phi Beta Kappa from Middlebury College (1990) and received an MBA from Harvard Business School (1994). He is a Trustee at the Metropolitan Museum of Art (2018), and serves on the MET’s Nominating &amp; Governance Committees. Mr. Pick is Chair of the Advisory Board for the Morgan Stanley Alliance for Children’s Mental Health and a board member of the Institute of International Finance.

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Ted Pick

Morgan Stanley Chief Executive Officer

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State Street Corporation

Ron is chairman and chief executive officer of State Street Corporation. He is also a member of State Street Corporation’s Board of Directors. Ron was previously president and chief operating officer of State Street Corporation, and before that president and chief executive officer of State Street Global Advisors, the investment management arm of State Street Corporation. He joined State Street in 2015. Prior to State Street, Ron was president of Asset Management &amp; Corporate Services for Fidelity Investments, responsible for all Fidelity asset management organizations and Fidelity’s corporate functions and enterprise technology. He served at Fidelity from 2010 to 2014. Prior to joining Fidelity, Ron served as president and chief executive officer of BNY Mellon Asset Management in Boston, a position to which he was named in 2007. During this time, he also served as vice chairman of Bank of New York Mellon Corporation and was a member of its Executive Committee. Additionally, Ron oversaw all of Bank of New York Mellon’s activities in Asia. Prior to the 2007 merger of Bank of New York and Mellon, he was vice chairman of Mellon Financial Corporation and president and chief executive officer of Mellon Asset Management. He served at Mellon and Bank of New York Mellon from 1997 to 2010. Prior to Mellon, Ron was with McKinsey &amp; Company, Inc., from 1986 to 1997 and was elected a partner in 1992. He founded the Investment Management practice worldwide and was co-founder and co-leader of the firm’s North American Personal Financial Services practice. Additionally, he was a member of the Worldwide Property &amp; Casualty Insurance practice. During his tenure with McKinsey, Ron served in the firm’s Boston, New York, and Stockholm offices. Ron received his Bachelor of Arts degree in political science from Syracuse University in 1980 and his Master of Business Administration from Harvard Business School in 1986. Ron serves on the boards of Unum Corp. and Rhode Island Commerce Corporation. He also serves on the boards of Beth Israel Lahey Health, The Boston Foundation, IYRS School of Technology and Trades, Syracuse University and WBUR. Ron’s philanthropic and civic interests include corporate governance, retirement/healthcare policy and funding, education, and climate. He has led several initiatives on gender equality. Ron is a frequent speaker and writer, and an avid offshore sailboat racer.

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Ronald O'Hanley

State Street Corporation Chairman And Chief Executive Officer

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Wells Fargo & Company

Charles W. Scharf is chief executive officer and president, and a member of the Board of Directors of Wells Fargo &amp; Company. A financial services veteran with 24 years of experience in leadership roles in the banking and payments industries, Charlie served as chief executive officer of Bank of New York Mellon from July 2017 to October 2019 and the chairman of its board from January 2018 to October 2018. He also was chief executive officer and a director of Visa Inc. from October 2012 to December 2016. During his tenure at Bank of New York Mellon, Charlie demonstrated a strong track record in initiating and leading change, driving results, strengthening operational risk and compliance, and innovating amid a rapidly evolving digital landscape. As the CEO of Visa, Charlie transformed the firm into a technology-driven digital commerce company by partnering with the world’s leading technology companies to drive new payment experiences and introduce new technologies to improve payment system security. Previously, he was a managing director of One Equity Partners at JPMorgan Chase &amp; Co. and chief executive officer of Retail Financial Services at JPMorgan Chase. He also was chief executive officer of the retail division of Bank One Corp., chief financial officer of Bank One Corp., chief financial officer of the Global Corporate and Investment Bank division of Citigroup, and chief financial officer of Salomon Smith Barney and its predecessor company. Charlie earned a Bachelor of Arts degree from Johns Hopkins University and an MBA from New York University. He is a director of Microsoft Corporation, serves on the board of trustees of Johns Hopkins University, is a member of The Business Council, and is chairman of the New York City Ballet. He lives in New York City.&nbsp;

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