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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

Wei Sun Christianson

Co-CEO Asia-Pacific, CEO China, Morgan Stanley, 60
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CHINA’S SLOWDOWN: The Positive Ripple Effect In 2015, China ended a 30-year period of high-speed growth. How is China’s slowing economy impacting global business? Could this new moment of decline signal even greater opportunities? We’ll talk to women leading companies across China about how they are navigating—and capitalizing on— this period of wrenching change. Discussion leaders: Wei Sun Christianson, Co-CEO, Asia-Pacific, and China CEO, Morgan Stanley Yilu Zhao, Senior Advisor, Qunar and Co-founder, Zebra Global Capital Moderator: Nina Easton, Fortune
Peter Dench — Fortune Most Powerful Women

Christianson, one of Asia’s most influential dealmakers, has reaped an IPO windfall for the bank, underwriting 127 Chinese firms’ IPOs since she became CEO in 2005 (including 13 IPOs last year alone). This makes Morgan Stanley the No. 1 bank in equity offerings in the Asia-Pacific region (excluding Japan) so far this year. One highlight in May: the $1.1 billion Hong Kong IPO of BOC Aviation, the largest ever IPO of a leasing company globally. The U.S. educated lawyer-turned-banker, who started her Morgan Stanley career as a Beijing representative in 1998, has also crushed it in China’s booming M&A market, negotiating 44 deals worth $110 billion in 2015. The member of the bank’s global management committee is also advocating for diversity in the workplace and championing for women’s rights across the globe.

Personal Information

Country China
Previous Rank #17 (ASIA)

Company Financials

Millions ($)
2015 Revenues $37,897
2015 Profits $6,127
Market Value (as of 8/26/16) $59,572

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