Sallie L. Krawcheck

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Sallie L. Krawcheck
Krawcheck sallie.jpg
Location Charlotte, North Carolina
LinkedIn Profile

Sallie L. Krawcheck is the former president of the Global Wealth & Investment Management division of Bank of America and served as an executive on Wall Street for many years. She was dismissed from her position with Bank of America Corp. in September of 2011 after the lender said it hoped to trim expenses by eliminating at least 30,000 jobs. She was given a $6 million severance after her ouster.[1] She joined Bank of America as the head of global wealth management in early August of 2009.

In March of 2016 she joined the board of Digital Asset Holdings, the blockchain startup led by the former JP Morgan commodities chief executive Blythe Masters.[2]

In October of 2011, Krawcheck stepped down from her position as governor of the Financial Industry Regulatory Authority (FINRA).[3] Because she was no longer at Bank of America, she could not remain on FINRA's board unless she joined another large firm in a short period of time.[4]

As CEO of Sanford Bernstein, starting in 2001, she developed a reputation for honesty at a time when many financial analysts were coming under the gun for allegedly hyping stocks to the public while privately trashing them. Under Krawcheck, Bernstein avoided the conflicts of interest that led to such accusations by providing research but doing no investment banking. [5] Krawcheck even landed on the cover of Fortune Magazine under the headline "In Search of the Last Honest Analyst."[6]

She was named #64 on Forbes' "The 100 Most Powerful Women" list in 2008. [7]

In 2003, she gave the R.W. Freeman Distinguished Lecture at Tulane University's A.B. Freeman School of Business. She said in her speech that values count and told students that they should create a sense of core personal values and adhere to them early in their career.[8]

The women’s network 85 Broads, which she bought from its founder, Janet Hanson, a former Goldman Sachs executive, in May 2013,[9] relaunched in June 2014 as the Ellevate Network. The group also announced a new index fund comprising companies with better-than-average gender diversity in their top ranks, called the Pax Ellevate Global Women’s Index Fund.[10]

Krawcheck is also the CEO and co-founder of Ellevest, a digital investment platform for women set to launch in 2016.[11]

Background[edit]

Krawcheck was chairman and chief executive officer of Sanford C. Bernstein & Co., LLC and an executive vice president of Bernstein's parent company, Alliance Capital Management, L.P. from 2001.[12]

She joined Citigroup in 2002, serving as chairman and chief executive officer of Smith Barney until November of 2004. She was the chairman and CEO of Citigroup's Global Wealth Management division, named to the position as of March 12, 2007. She had oversight of Citi's 46,000 employees in the division.[13]

On Sept. 22, 2008, Citigroup announced that Krawcheck had decided to leave the company to pursue other opportunities. The following year, she joined Bank of America.

Education[edit]

She attended the University of North Carolina at Chapel Hill on the Morehead Scholarship and graduated in 1987 with academic honors and a Bachelor of Arts. In 1992, she received a Master of Business Administration from Columbia University.[14]

References[edit]

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