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This year, Fortune has ranked the 50 Most Powerful Women based outside the U.S. Banco Santander group executive chairman Ana Botín repeats as No. 1, in a time of economic and political volatility for all. The 2016 list spans 19 countries and is comprised of 16% new names. By Rupali Arora, Erika Fry, Audrey Shi, and Claire Zillman

Click here to see the "U.S. Most Powerful Women" list.

1 Ana Botín Group Executive Chairman Banco Santander Spain 55
2 Arundhati Bhattacharya Chairperson State Bank of India India 60
3 Isabelle Kocher CEO Engie France 49
4 Chua Sock Koong Group CEO Singapore Telecommunications Singapore 58
5 Chanda Kochhar Managing Director and CEO ICICI Bank India 54
6 Alison Cooper CEO Imperial Brands U.K. 50
7 Güler Sabancı Chairman Sabancı Holding Turkey 61
8 Ho Ching Executive Director and CEO Temasek Singapore 63
9 Annika Falkengren CEO and President SEB Group Sweden 54
10 Ornella Barra Co-COO Walgreens Boots Alliance U.K. 62
11 Dong Mingzhu CEO Gree Electric Appliances China 62
12 Wang Fengying CEO and Executive Director Great Wall Motor China 46
13 Li Dang President and Director China General Technology China 59
14 Wan Ling Martello Head of Asia, Oceania and Africa Nestlé Switzerland 58
15 Patricia Barbizet CEO, Artemis; CEO & Chairman, Christie's International Groupe Artemis France 61
16 Lucy Peng CEO Ant Financial China 43
17 Rose Lee Wai Mun Vice Chair, CEO Hang Seng Bank China (HK) 63
18 Véronique Laury CEO Kingfisher U.K. 51
19 Shikha Sharma CEO and Managing Director Axis Bank India 57
20 Maria Ramos Group CEO Barclays Africa Group South Africa 57
21 Dominique Senequier President Ardian France 63
22 Carolyn McCall CEO EasyJet U.K. 54
23 Serpil Timuray Regional CEO, AMAP Vodafone U.K. 47
24 Lubna Olayan CEO and Deputy Chairperson Olayan Financing Saudi Arabia 61
25 Nancy McKinstry CEO and Chairman Wolters Kluwer Netherlands 57
26 Wu Yajun Chairman Longfor Properties China 52
27 Moya Greene CEO Royal Mail U.K. 62
28 Kwon Seon-joo CEO and Chairman Industrial Bank of Korea South Korea 59
29 Isabelle Ealet Global Co-Head of Securities Goldman Sachs U.K. 53
30 Dominique Leroy CEO Proximus Belgium 51
31 Wei Sun Christianson Co-CEO Asia-Pacific, CEO China Morgan Stanley China 60
32 Maggie Wei Wu CFO Alibaba China 48
33 Emma Walmsley CEO, GSK Consumer Healthcare GSK U.K. 47
34 Jennifer Li CFO Baidu China 49
35 Rachel Duan SVP, GE; CEO and President, GE China General Electric China 46
36 Jean Liu President Didi Chuxing China 37
37 Tsai (Patty) Pei-Chun CEO Pou Chen Group Taiwan 36
38 Sun Yafang Chairman Huawei Technologies China 60
39 Alison Brittain CEO Whitbread U.K. 51
40 Erica Mann Head of Consumer Health Division Bayer Switzerland 57
41 Margarita Louis-Dreyfus Chairperson of Supervisory Board Louis Dreyfus Holding Switzerland 54
42 Boo-Jin Lee CEO Hotel Shilla South Korea 45
43 Rakefet Russak-Aminoach CEO and President Leumi Group Israel 50
44 Ann Cairns President, International Markets MasterCard U.K. 59
45 Anne Richards CEO M&G Investments U.K. 52
46 Nancy Southern CEO, Chair and President ATCO Canada 59
47 Alison Watkins Group Managing Director Coca-Cola Amatil Australia 53
48 Zhou Qunfei CEO and Founder Lens Technology China 46
49 Marina Berlusconi Exec. Chairman, Fininvest; Chairman, Mondadori Fininvest Italy 50
50 Linda Hasenfratz CEO Linamar Canada 50

Ho Ching

Executive Director and CEO, Temasek, 63
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Suhaimi Abdullah — Getty Images

When Ho returned from her surprise six-month sabbatical last October, it was seen as a sign that she was beginning to back away from her role atop Singapore’s state-owned investment firm. Her likely successor Lee Theng Kiat was given charge of investment strategy and all employees–save Ho and the CFO. Ho has tried to pass the reins before—in 2009, to former BHP Billiton CEO Chip Goodyear—only to reclaim them after strategic “differences” emerged. But for now, Ho remains the boss at the Temasek, the influential sovereign wealth fund where she has served as Executive Director since 2002. Under her leadership, the firm’s $180 billion portfolio has broadened beyond Asia—Gilead Sciences and Monsanto are now among its holdings, for example—and posted an annual shareholder return of 6% over the past decade (though it was down 9% in 2015). Ho also made news this year for a number of non-business related reasons: an inadvertent Facebook post involving a middle-finger-wielding monkey, which she later apologized for; an injury sustained in a hoverboard crash, and an $11 dinosaur-print purse she carried on a state visit to the White House. Ho, an engineer by training, is married to Lee Hsien Loong, Singapore’s current prime minister.

Personal Information

Country Singapore
Previous Rank #10 (ASIA)

Company Financials

Millions ($)
2015 Revenues $73,269
2015 Profits $6,064
Market Value (as of 8/26/16) n/a

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