Sallie Krawcheck – Wikipedia

American business executive
Sallie L. Krawcheck ( bear November 28, 1964 ) [ 1 ] is the early promontory of Bank of America ‘s Global Wealth and Investment Management division and is presently the CEO and co-founder of Ellevest, a digital fiscal adviser for women launched in 2016. [ 2 ] [ 3 ] [ 4 ] She has been known as the most potent woman on Wall Street. [ 5 ] [ 6 ] [ 7 ]

early life [edit ]

Krawcheck grew up in Charleston, South Carolina. She has described her childhood as “ half jewish, half WASP-y ”. [ 8 ] She attended the Porter-Gaud School. [ 9 ] While in high school, she was a local chase headliner, and in 1983, as a high school senior, she was honored as a South Carolina Presidential Scholar. She received a Morehead Scholarship to the University of North Carolina at Chapel Hill where she received a degree in journalism. [ 2 ] In 1992, she obtained an MBA from Columbia Business School. [ 2 ] [ 10 ]

career [edit ]

Sanford C. Bernstein [edit ]

Krawcheck started her business career as fairness analyst covering the Wall Street firms, rising to become Director of Research and then chair and CEO of sell-side inquiry firm Sanford C. Bernstein & Co. [ 11 ] She had a reputation for unprejudiced advice and her decision to take Bernstein out of the lucrative, but conflicted underwrite occupation, caused Fortune to dub her “ The final Honest Analyst. ” [ 12 ] Citigroup sought her knocked out to deal with criticisms over conflicts of pastime within its wealth management and inquiry business after charges were brought against the company by Eliot Spitzer. [ 13 ]

Citigroup [edit ]

Krawcheck was named CEO of Citigroup ‘s ( then newly ) Smith Barney unit, for which she was named to Time’ randomness 2002 list of “ global Influentials ” and Fortune ‘s Most influential Person Under the Age of 40. [ 14 ] [ 15 ] The Smith Barney unit of measurement was set up in order to separate Citigroup ‘s investment deposit from its neckcloth broker and research operations, to avoid the appearance of a conflict of interest in those areas. Krawcheck was put in mission of 13,000 brokers and analysts of the new retail brokerage unit. [ 13 ] In 2004, Krawcheck was appointed Chief Financial Officer for Citigroup Inc. [ 16 ] In 2007, Krawcheck was named CEO of Citi ‘s wealth management business, which included returning to Smith Barney and adding the Citi Private Bank. At the time of her arrival, the Private Bank had been thrown out of Japan for sales commit issues ; this, combined with continuing Citi regulative issues, resulted in fiscal adviser attrition that was at an all-time high. She worked to change the bodied acculturation for Smith Barney ‘s fiscal advisors as an early advocate of a fiduciary standard for the brokerage industry. [ 17 ] [ 18 ] Krawcheck left Citi on September 22, 2008. The move followed months of latent hostility with foreman executive military officer Vikram Pandit, due to the fact that Krawcheck argued for Citi to reimburse clients for defective investments distributed by Citi wealth management ‘s brokers and bankers. [ 19 ] Pandit and early chief officers at Citi disagree, arguing that Citi had no legal debt instrument in the matter. [ 17 ] [ 20 ]

Bank of America [edit ]

Following the acquisition of Merrill Lynch in 2009, Bank of America hired Krawcheck to head the new division. Although Bank of America then-chief administrator Ken Lewis had attempted to cancel the deal in the weeks before it closed, fearing Merrill Lynch was in bad fiscal condition than previously known, [ 21 ] Krawcheck led the unit to $ 3.1 billion in profits during her two years as president of the united states of the wealth management unit. [ 17 ] In the second quarter of 2011, Krawcheck ‘s division increased net income by 54 percentage, from $ 329 million to $ 506 million, [ 22 ] while Bank of America posted an overall $ 8.8 billion loss. [ 23 ]

Read more: The Power of Putting People First

Krawcheck ‘s military position at Merrill was eliminated by the firm ‘s new chief executive, Brian Moynihan, as character of restructure, and Krawcheck left Bank of America on September 6, 2011. [ 19 ] She received severance payments totaling $ 6,000,000. [ 24 ]

Ellevate Network [edit ]

Krawcheck acquired 85 Broads Unlimited LLC ( which is now doing business as Ellevate Network ) in 2013 and is now the president of the arrangement. [ 3 ] [ 25 ]

Ellevest [edit ]

Krawcheck is the co-founder and CEO of Ellevest, a digital investing platform for women. Ellevest ‘s goal is to work to close the gender investing break in the U.S. by “ redefining investing for women. ” [ 26 ]

Accolades [edit ]

In 2008, she was named to Investment Advisor magazine ‘s IA 25, the list of the 25 most influential people in and around the investing advisory business. [ 27 ] She was recognized by the World Economic Forum as one of its Young Global Leaders. [ 28 ] In 2012, she was credited by The Daily Beast as remaining one of the “ rare honest voices on Wall Street. ” [ 29 ] In December 2017, she was listed in a TechCrunch have on 42 women succeeding in technical school that class. [ 30 ]

Krawcheck established a needs-based eruditeness at her erstwhile secondary school, Porter-Gaud, awarding broad tutelage to students of exceptional aptitude. [ 31 ]

References [edit ]

source : https://enrolldetroit.org
Category : Social

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