Karen Peetz, Penn State graduate and vice chairwoman at BNY Mellon was chosen as this year’s most powerful woman in banking, according to a ranking from American Banker Magazine.
Peetz, Class of 1977, is the first chairwoman in BNY Mellon’s history, said BNY Spokeswoman Laine Cigna, Class of 1993.
She is also an active member of the Penn State community, Penn State Spokesman Geoff Rushton said.
She serves on the Board of Trustees, is a distinguished graduate and has spoken to many classes at Penn State, he said.
Peetz said this feels like a lifetime achievement for her, as well as an important recognition for her company.
“Just like it was great for me personally and the company, I think it’s great for Penn State when graduates get recognized,” she said.
She has been on the list before, but American Banker Magazine Editor-in-Chief Heather Landy said the new responsibilities Peetz has taken on in the past 12 months have moved her up to the top of the list.
“In the past year, she’s taken on some additional responsibilities at her firm,” Landy said. “She has just continued to influence more and more women at her bank and around the industry.”
Some criteria considered by American Banker Magazine while creating the list includes women’s leadership within their companies, their initiatives for diversity of female talent development programs, their leadership in the nonprofit world and their year-end figures in 2010 and the first quarter of 2011, Landy said.
Peetz oversees over 17,000 employees in about 76 cities around the world, 40 of which are in different countries, she said.
“She is recognized [at BNY Mellon] as a true leader, and now we’re recognizing her as well,” Landy said.
And not only is Peetz a successful businesswoman, but she also is helpful in assisting other females achieve their goals in her company.
Peetz created Women’s Initiative Network throughout BNY, which has about 4,000 members in about 50 different company locations, Cigna said.
“It’s the idea that not only does she have these strong business skills, but she’s doing more than that in helping develop the next generation of women and women leaders,” Cigna said.
Cigna said the ranking speaks volumes about Penn State and as a graduate herself, she is very happy to hear an alumna was chosen as the most powerful woman in banking.
Rushton said this is a great accomplishment for both Peetz and Penn State.
“It’s great for Penn State to have an alumna who is so accomplished and who continues to be a part of the Penn State community,” he said.
