9. John Stumpf
Who: John Stumpf, CEO of Wells Fargo
Why: "Wells Fargo has distinguished itself mostly by what it doesn’t do. Stumpf’s bank is simpler than its East Coast rivals, with less investment banking and trading and, until recently, less of a propensity to run afoul of regulators. Now Stumpf faces the biggest scandal of his career after Wells Fargo paid $185 million to settle complaints that employees opened accounts customers didn’t know about. He’s stumbled as he’s addressed the scandal, initially blaming low-level employees—5,300 have been fired for improper conduct. The bank’s shares have been so battered that Wells recently lost the title of world’s most valuable bank."
Overall ranking: #23
Source: Bloomberg News
8. Jeffrey Gundlach
Who: Jeffrey Gundlach, founder and CEO of DoubleLine Capital
Why: "Gundlach’s Los Angeles-based investment firm passed $100 billion in assets in June. His fearless prognostications and record of prescient calls make him influential beyond DoubleLine’s size. In January he forecast that gold would reach $1,400 this year and that oil would plateau below $50. He also predicts a President Donald Trump. Gundlach warns that bad times are coming, assets are overpriced, and interest rates have hit bottom. Bet against him at your peril."
Overall ranking: #22
Source: Bloomberg News
7. Sergio Ermotti
Who: Sergio Ermotti, CEO of UBS
Why: "In the race to reinvent Swiss banking, Ermotti has a head start. He moved quickly after he was given the top job in late 2011, stressing wealth management, shrinking investment banking, and cutting costs. That paid off for a few years, though the earnings rebound lost momentum in 2015. UBS has dramatically outperformed rival Credit Suisse during Ermotti’s tenure, but nothing’s easy in European banking. Among the concerns: Wealthy clients from developing countries are pulling their money, fearing increased scrutiny from tax authorities."
Overall ranking: #21
Source: Bloomberg News
6. Carl Icahn
Who: Carl Icahn, chairman of Icahn Enterprises
Why: "What other activist investor has tackled targets as diverse as Apple and Herbalife, and won? Icahn exited his Apple stake earlier this year with the shares much higher than they were three years ago, when he first invested and started pushing CEO Tim Cook to return money to stockholders. At tiny Herbalife, he appears ready to double down on a bet that was motivated in part by his antipathy to Bill Ackman’s effort to paint the company as a pyramid scheme. Herbalife shares have almost doubled since Icahn started buying, and now he’s considering launching a tender offer to take the company private."
Overall ranking: #20
Source: Bloomberg News
5. Larry Fink
Who: Larry Fink, founder and CEO of BlackRock
Why: "Name a company, and BlackRock, with its $4.6 trillion under management, is likely among the largest holders of its equity or debt. That means Fink has a platform to speak out on the issues he cares about, such as governance. Earlier this year, in an open letter addressed to American and European CEOs, he counseled them to plan and invest for the longer term—both for the good of the economy and for the benefit of shareholders who are saving for retirement—rather than maneuver for short-term gains."
Overall ranking: #16
Source: Bloomberg News
4. Lloyd Blankfein
Who: Lloyd Blankfein, CEO of Goldman Sachs
Why: "Blankfein’s influence may rest, in the end, on how well his company can adapt to the structural changes sweeping Wall Street. Revenue was lower in 2015 than in 2006, when he became CEO, and it’s forecast to drop further this year. So Goldman’s boss is cutting costs and reducing head count. He’s also expanding into retail banking and pushing technological change."
Overall ranking: #15
Source: Bloomberg News
3. Jamie Dimon
Who: Jamie Dimon, CEO of JPMorgan Chase
Why: "The leader of the world’s most valuable bank has spoken out against Brexit and in favor of the Trans-Pacific Partnership trade pact. He’s also downplayed concerns that his industry is about to get upended by the growing legions of fintech startups. In a Bloomberg interview in March, he suggested some large banks can innovate on their own or in partnership with new players. (JPMorgan has teamed up with online lender OnDeck.) He noted that regulators aren’t about to give fintech companies a pass. Said Dimon: 'We like our hand.'”
Overall ranking: #13
Source: Bloomberg News
2. Bill McNabb
Who: Bill McNabb, CEO of Vanguard Group
Why: "The man who’s been running one of the world’s largest investment companies for almost a decade is so low-profile he doesn’t have a Wikipedia entry. But Vanguard’s influence continues to expand as retirees and other investors pull money out of actively managed funds and put it in low-cost index funds—Vanguard’s specialty. The company took in a record $236 billion last year and is on track to beat that in 2016."
Overall ranking: #12
Source: Bloomberg News
1. Warren Buffett
Who: Warren Buffett, CEO of Berkshire Hathaway
Why: "The Oracle of Omaha has a thing for hidden champions: companies that aren’t quite household names but are leaders in their industries. Among more than a dozen acquisitions Berkshire Hathaway has done this year are a Danish business that makes processing equipment for the poultry industry and a jewelry e-tailer in Boston. That’s not to say Buffett has lost his taste for high-profile stocks: Berkshire increased its stake in Apple by 55 percent during the second quarter, when the share price dipped on expectations that slower customer upgrades and competition from China would take a bite out of iPhone sales this year."
Overall ranking: #9
Source: Bloomberg News
