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:
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9. John Stumpf
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
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
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