The ongoing debate about financial regulatory reform andthe looming European debt crisis are two dominant themes inTreasury & Risk's 100 Most Influential People inFinance list this year. The 2012 list includes lots of movers andshakers in Washington, reflecting the efforts there surroundingderivatives and money-market fund regulations, the Volcker Rule,convergence with international accounting standards, corporate taxreform and the federal deficit. There are also a number of globalleaders on this year's list as companies watch to see whether theeurozone's problems will derail the global economic recovery. Theheart of the list, though, remains the corporate financeexecutives—CFOs, treasurers, risk officers and others—who continueto come up with better ways to get the job done and innovativeapproaches to help their companies flourish. For Most Influential CFOs slideshow

Coming up: Finance Pros (6/19/2012), Risk Managers and Bankers(6/20/2012), Complete list (6/21/2012).

Werner Brandt
CFO & Member of Executive Board
SAP
Brandt has led the technology company's finance function throughthree major acquisitions—BusinessObjects, Sybase andSuccessFactors—in the last four years. Now he faces integrating afourth acquisition, of e-commerce company Ariba.

Jack Callahan
CFO & EVP
McGraw-Hill Cos.
Dean, who joined McGraw-Hill in 2010 after serving as CFO at DeanFoods, is dealing with McGraw-Hill's split into two public units byspinning off its education unit. The effort involves extensive costcuts and the disaggregation of the work done by the company'sshared services center.'

Jeffrey Campbell
CFO & EVP
McKesson
As finance chief for the massive pharmaceuticals distributor,Campbell is credited with assembling an effective team and leadingit well. Prior to joining McKesson, Campbell was CFO of AMR and itssubsidiary, American Airlines.

Paul Clancy
CFO & EVP
Biogen Idec
Since becoming CFO of the biotech drug company in 2007, Clancy hascoped with proxy battles mounted by activist investor Carl Icahnand turnover in the CEO spot. More recently, he's overseen aresurgence in Biogen's stock.

David Graziosi
CFO, Treasurer & EVP
Allison Transmission
Graziosi joined Allison in 2007, shortly after it was purchasedfrom General Motors, and since then has built the financialinfrastructure necessary for a standalone company, improved thebalance sheet by cutting debt and played a key role in thecompany's IPO earlier this year.

Daniel Henry
CFO & EVP
American Express
As other financial firms capsized amid the market meltdown, Henryhelped American Express successfully navigate the crisis. And thisyear, he was recruited to join the board of Groupon to provideaccounting expertise after the coupon company had to restate its2011 financial results.

David Herzog
CFO & EVP
American International Group
Herzog is leading an epic turnaround at the insurer, the progressof which was evidenced by the Treasury's sale of another chunk ofits AIG stake in May. The effort to mend the insurer involves ahost of strategic decisions by the CFO.

Ronald Jadin
CFO & SVP
W.W. Grainger
As finance chief for the distributor of industrial products since2008, Jadin worked to contain costs by doing more with less as hesteered the company through the recession.

Joe Kaesar
CFO
Siemens
Kaesar gained recognition for responding to the impact of theeurozone crisis earlier than many other finance executives. He alsohas obtained a banking license for Siemens from the GermanFinancial Supervisory Authority and set up a new financialoperating model, One Siemens, that's focused on capitalefficiency.

Seturaman Mahalingam
CFO & Executive Director
Tata Consulting Services
A 40-year employee of the Indian IT services provider and its CFOsince 2003, Mahalingam has played a key role in Tata's growth intoa $10 billion global company that is outpacing its Indianrivals.

Scott Morrison
CFO & SVP
Ball Corp.
Morrison and his team put together an enterprise risk mappingsystem run on Ball Corp.'s intranet that lets the company assessand prepare for potential risks. He also extended Ball's debtmaturities for 10 years at favorable rates, strengthening thecompany's financial structure.

Peter Oppenheimer
CFO & SVP
Apple
Oppenheimer and Apple made a splash earlier this year by decidingto issue a dividend for the first time ever. As the tech company'sfinance chief since 2004, Oppenheimer has a reputation for being astrategic CFO with strong people skills.

Vasant Prabhu
CFO & Vice Chairman
Starwood Hotels and Resorts
While steering the company through the downturn, Prabhu managed tocut costs and reduce debt to position the hotel operator for therecovery. Now Starwood is expanding rapidly in markets such asLatin America, China and the Middle East.

Kimberly Ross
CFO & EVP
Avon Products
Since joining the beauty products company last fall, Ross has dealtwith turnover in the CEO position and a takeover bid from Coty,while overseeing a finance department dealing with a long-runningForeign Corrupt Practices Act investigation. Next up: executing aturnaround.

James Sawyer
CFO & EVP
Praxair
Sawyer, who has held the CFO position for the last 12 years,developed a strategy to better link Praxair's decision makingprocess with its financial objectives, in part by more tightlycontrolling capital spending resulting in industry leading returnon capital. Praxair has provided an annualized shareholder returnof 16% over the past decade

Tracey Travis
CFO & SVP, Finance
Ralph Lauren
Travis has served as finance chief for the apparel company since2005, and over the last year and a half, she has presided over animpressive performance by the company's stock.

Kathy Willard
CFO & EVP
Live Nation Entertainment
Willard has handled the financial aspects of divestitures,spin-offs and more than 200 acquisitions for the giantentertainment company, most notably its 2010 acquisition ofTicketmaster.

See the 2011 list of the 100 Most Influential People inFinance here.