Mary Callahan Erdoes is Chief Executive Officer of J.P. Morgan Asset & Wealth Management, a global leader in investment management and private banking with $2.8 trillion in client assets. She is also a member of JPMorgan Chase & Co.'s Operating Committee.
Callahan Erdoes started her career with Stein Roe & Farnham, and described her maternal grandmother as instrumental for helping her get that job during college. She described her position there as a "glorified mailroom job". She then moved on to Bankers Trust, where she worked in corporate finance, merchant banking, and high-yield debt underwriting. Prior to joining J.P. Morgan, she was employed at Meredith, Martin & Kaye, a fixed-income specialty advisory firm, where she was responsible for credit research, trading, and individual portfolio management. In 1996, she joined J.P. Morgan Asset Management as head of fixed income for high-net-worth individuals, foundations, and endowments. In March 2005, she was appointed CEO of J.P. Morgan Private Bank. She assumed her current post in September 2009. She has been mentioned as a potential successor to JPMorgan Chase & Co. CEO Jamie Dimon. In 2012, Callahan Erdoes was included in the 50 Most Influential list of Bloomberg Markets. In March 2013, Business Insider included Callahan Erdoes on its list of the 25 most powerful women on Wall Street. In 2016, Callahan Erdoes was named the 60th most powerful woman in the world by Forbes. She is a board member of Robin Hood, the U.S. Fund for UNICEF. and the U.S.-China Business Council. She also serves on the Federal Reserve Bank of New York's Investor Advisory Committee on Financial Markets.
Epstein Client Retention Allegations
As an executive at JPMorgan, Callahan Erdoes was cited as the main reason JPMorgan retained Jeffrey Epstein as a client for five years, through 2013, after his conviction for sex crimes. The New York Times cited six employees as stating that "the main reason was that Mary C. Erdoes, one of JPMorgan’s highest-ranking executives, intervened to keep him as a client." The Times noted that "Joseph Evangelisti, a JPMorgan spokesman, disputed The New York Times's reporting. 'Mary would never overrule our compliance team or other controls functions to retain a customer,' he said."
Personal life
Callahan Erdoes met her husband Philip Erdoes at Harvard Business School. While Mrs Erdoes is Catholic, her husband is Jewish. They live in New York City with their three daughters. Callahan Erdoes is a major Republican Party donor and fundraiser. She contributed to the presidential campaigns of John McCain and Mitt Romney in 2008 and 2012, respectively.
