# Mary Callahan Erdoes

Mary Callahan Erdoes (born August 13, 1967) is an American investment manager and businesswoman. She is the chief executive officer (CEO) of the asset and wealth management division of J.P. Morgan, since 2009. With the firm since 1996, she began her career as a portfolio manager, specializing in fixed income trading. From 2005 to 2009, she was the CEO of the firm's private bank, advising wealthy families and institutions. Her career has led to her being described as the most powerful woman in American finance. She has been noted as a potential successor to Jamie Dimon, as CEO of JPMorgan Chase.

## Early life and education

Mary Callahan was born on August 13, 1967 in Menlo Park, California, to Patricia and Patrick Callahan Jr. Her father was a former partner at investment banking firm Lazard. She was raised in Winnetka, Illinois, a North Shore suburb of Chicago. She was raised in a Roman Catholic family of Irish descent. She attended the all-girls Roman Catholic Woodlands Academy of the Sacred Heart in Lake Forest, Illinois. Erdoes completed her bachelor's degree at Georgetown University, majoring in mathematics. She was the only woman to complete a mathematics major at Georgetown at the time. She earned her MBA at Harvard Business School.

## Career

Callahan Erdoes started her career with boutique asset manager Stein Roe & Farnham in Chicago, in a role she described her position there as a "glorified mailroom job". She then joined Bankers Trust as an analyst in 1989, where she worked in corporate finance, merchant banking, and high-yield debt underwriting. She moved on to Meredith, Martin & Kaye, a fixed-income specialty advisory firm, where she was responsible for credit research, trading, and portfolio management. In 1996, she joined J.P. Morgan Asset Management as the head of fixed income, aged 29, advising high-net-worth individuals, foundations, and endowments. From March 2005 to September 2009, she was the CEO of J.P. Morgan's Private Bank, their high-end wealth management unit. She has been noted as a potential successor to Jamie Dimon, as CEO of JPMorgan Chase.
She is a board member of Robin Hood Foundation, the U.S. Fund for UNICEF, and the U.S.-China Business Council. She has been on the Federal Reserve Bank of New York's Investor Advisory Committee on Financial Markets. Erdoes is also on the board of trustees for Georgetown University, Harvard Business School, and Harvard University. She is the vice chair of Alfred E. Smith Memorial Foundation.

## Personal life

Callahan Erdoes has been married to Philip Erdoes since 1993, first meeting during their time at Harvard Business School. They live in New York City with their three daughters.
She has donated to both Democratic Party and Republican Party candidates. These include donations to the presidential campaigns of John McCain and Mitt Romney in 2008 and 2012, respectively.

## Honors

Since 2012, Callahan Erdoes has been included in the 50 Most Influential list of Bloomberg Markets. Since March 2013, Business Insider included Callahan Erdoes on its list of the 25 most powerful women on Wall Street. Since 2016, Callahan Erdoes has been named one of the most powerful women in the world by Forbes and American Banker. In 2023, she ranked 44th in Forbes list of "World's 100 most powerful women".