Here are the 9 most influential people on Wall Street

caption
Goldman Sachs Chairman and CEO Lloyd Blankfein.
source
Thomson Reuters

Bloomberg News just released its list of the 50 most influential people in financial markets, which includes politicians, entrepreneurs, and central bankers.

To determine the ranking, Bloomberg asked dozens of reporters and editors to nominate candidates, who were then vetted and voted on by senior editors. The list was narrowed from 100 to 50.

Hedge fund managers have had a horrible year, which explains why not many of them made it to the list. However, there are some familiar names from big banks and investment giants, such as Goldman Sachs’ Lloyd Blankfein and Vanguard Group’s Bill McNabb.

Here are the top nine movers and shakers from the world of finance, according to Bloomberg’s 50 Most Influential list:


9. John Stumpf

source
Larry Downing/Reuters

Who: John Stumpf, CEO of Wells Fargo

Why: Wells Fargo’s Stumpf, who built his reputation running Wall Street’s most squeaky-clean bank, is all over the news. He has long touted his love of cross-selling (and he still does), but a recent scandal exposed how the bank had gone too far to that end. This isn’t only a cautionary tale about incentive pay – it also represents a huge threat to Stumpf’s career.

Overall ranking: 23

Source: Bloomberg News


8. Jeffrey Gundlach

Who: Jeffrey Gundlach, founder and CEO of DoubleLine Capital

Why: Gundlach has a track record of making prescient calls. In January, he forecast that gold would reach $1,400 this year, and continued to hold gold halfway through the year. He asked investors to sell everything else amid a frothy market, and most recently predicted that the Federal Reserve would not raise rates in September (which rang true). He oversees $100 billion in assets, as of June.

Overall ranking: 22

Source: Bloomberg News


7. Sergio Ermotti

source
Michael Buholzer/Reuters

Who: Sergio Ermotti, CEO of UBS

Why: Since he took the helm in late 2011, Ermotti has been reshaping the Swiss bank’s strategy. That includes shrinking the investment bank, focusing more on wealth management, and implementing a range of cost-cutting measures. However, the bank is facing an exodus of money, as tax authorities ramp up scrutiny on the wealthy.

Overall ranking: 21

Source: Bloomberg News


6. Carl Icahn

source
Neilson Barnard/Getty Images for New York Times

Who: Carl Icahn, chairman of Icahn Enterprises

Why: The activist investor has made a lot of noise this year. Icahn cashed out on his Apple investment in April, and he has gone to war with Bill Ackman over Herbalife. Herbalife shares have almost doubled since Icahn started his position, and he thinks it’s better off going private. Oh, and he endorsed Donald Trump in a recent video.

Overall ranking: 20

Source: Bloomberg News


5. Larry Fink

Who: Larry Fink, founder and CEO of BlackRock

Why: Fink has turned BlackRock into the world’s largest investor, with about $4.6 trillion under management. He is also stepping up to become a real voice on Wall Street. In February, he sent an open letter to American and European CEOs and asked them to better articulate their plans for the future.

Overall ranking: 16

Source: Bloomberg News


4. Lloyd Blankfein

source
Goldman Sachs

Who: Lloyd Blankfein, CEO of Goldman Sachs

Why: Blankfein, who started as a clueless young man, is now among the most successful people in finance. He is pushing Goldman Sachs into Main Street business lines and onboarding massive tech talent, as well as overhauling the bank’s working culture. He achieved billionaire status in 2015.

Overall ranking: 15

Source: Bloomberg News


3. Jamie Dimon

source
Mike Theiler/Reuters

Who: Jamie Dimon, CEO of JPMorgan Chase

Why: Dimon is increasingly vocal about economic and political issues, like saying why he’s against Brexit and why he loves America (so much so that he said wanted to be president). In a column in The New York Times, Dimon outlined how he wanted to raise the minimum wage for the bank’s hourly employees.

Overall ranking: 13

Source: Bloomberg News


2. Bill McNabb

source
Tim Shaffer/Reuters

Who: Bill McNabb, CEO of Vanguard Group

Why: You may not have heard of him, but McNabb runs one of the most important investment firms in the world, with more than $3 trillion in assets. Vanguard has been at the forefront of the booming exchange-traded-funds industry. The firm also has an interesting structure: It’s owned by its member funds. That means that any profits are passed back to shareholders in the form of lower costs. That’s part of the reason the firm’s average expense ratio (US fund expenses as a percentage of 2015 average net assets) is just 0.18%.

Overall ranking: 12

Source: Bloomberg News


1. Warren Buffett

source
Thomson Reuters

Who: Warren Buffett, CEO of Berkshire Hathaway

Why: The Oracle of Omaha is an investing legend, and it should come as no surprise that he’s near the top of the Bloomberg ranking. When he talks, the market listens. There is a cloud on the horizon, however: Wells Fargo. Buffett recently recently petitioned the Federal Reserve to increase his ownership stake in the bank above 10%. Since then, the bank has come under fire over its opening of fraudulent bank accounts, and the share price is hovering around $45, down from around $55 at the start of 2016. Buffett has said he won’t speak about the investment until November.

Overall ranking: 9

Source: Bloomberg News