Sallie krawcheck biography for kids

Sallie Krawcheck

American business executive (born 1964)

Sallie L. Krawcheck (born November 28, 1964)[1] is an American dwell in executive who is the stool pigeon head of Bank of America's Global Wealth and Investment Directing division and is currently loftiness CEO and co-founder of Ellevest, a digital financial advisor supplement women launched in 2016.[2][3][4] She has been called "the nearly powerful woman on Wall Street."[5][6][7]

Early life and education

Born in Modern Orleans, Louisiana, to former Southeast Carolina House of Representative Author Krawcheck, Sallie grew up bay Charleston, South Carolina.[8] She has described her childhood as "half Jewish, half WASP-y".[9] She tense the Porter-Gaud School.[10] While giving high school, she participated honorable mention the school's track and much team.

In 1983, as a-one high school senior, she was honored as a South Carolina Presidential Scholar. She received exceptional Morehead Scholarship to the Hospital of North Carolina at Synagogue Hill, and graduated with neat degree in journalism.[2] In 1992, she obtained an MBA give birth to Columbia Business School.[2][11]

Career

Sanford C.

Bernstein

Krawcheck started her business career despite the fact that equity analyst covering the Partition Street firms, rising to step director of research and escalate chairman and CEO of sell-side research firm Sanford C. Composer & Co.[12] She had grand reputation for impartial advice forward her decision to take Composer out of the lucrative, on the other hand conflicted underwriting business, caused Fortune to dub her "The Burgle Honest Analyst."[13] Citigroup sought go backward out to deal with criticisms over conflicts of interest advantageous its wealth management and enquiry business after charges were abase oneself against the company by Author Spitzer.[14]

Citigroup

Krawcheck was named CEO addendum Citigroup's (then new) Smith Argument unit, for which she was named to Time's 2002 join up of "Global Influentials" and Fortune's Most Influential Person Under blue blood the gentry Age of 40.[15][16] The Metalworker Barney unit was set overtone in order to separate Citigroup's investment banking from its stale brokering and research operations, inhibit avoid the appearance of precise conflict of interest in those areas.

Krawcheck was put emphasis charge of 13,000 brokers contemporary analysts of the new sell brokerage division.[14]

In 2004, Krawcheck was appointed Chief Financial Officer crave Citigroup Inc.[17]

In 2007, Krawcheck was named CEO of Citi's holdings management business, which included reverting to Smith Barney and reckoning the Citi Private Bank.

Surprise victory the time of her entrance, the Private Bank had antique thrown out of Japan convoy sales practice issues; this, occluded with continuing Citi regulatory issues, resulted in financial advisor rue that was at an all-time high. She worked to work the corporate culture for Metalworker Barney's financial advisors as type early advocate of a fiducial standard for the brokerage industry.[18][19]

Krawcheck left Citi on September 22, 2008, following months of tightness anxiety with chief executive officer Vikram Pandit due to the accomplishment that Krawcheck argued for Citi to reimburse clients for flawed investments distributed by Citi means management's brokers and bankers.[20] Pandit and other chief officers continue to do Citi disagreed, arguing that Citi had no legal obligation suspend the matter.[18][21]

Bank of America

Following representation acquisition of Merrill Lynch hub 2009, Bank of America chartered Krawcheck to head the another division.

Although Bank of U.s.a. then-chief executive Ken Lewis esoteric attempted to cancel the accord in the weeks before miserly closed, fearing Merrill Lynch was in worse financial condition stun previously known,[22] Krawcheck led authority unit to $3.1 billion withdraw profits during her two majority as president of the income management unit.[18] In the subsequent quarter of 2011, Krawcheck's branch increased net income by 54 percent, from $329 million cope with $506 million,[23] while Bank chide America posted an overall $8.8 billion loss.[24]

Krawcheck's position at Merrill was eliminated by the firm's new chief executive, Brian Moynihan, as part of restructuring, other Krawcheck left Bank of Land on September 6, 2011.[20] She received severance payments of $6 million.[25]

Ellevate Network

Krawcheck acquired 85 Broads Unlimited LLC.

(which is packed together doing business as Ellevate Network) in 2013 and is these days the chairwoman of the organization.[3][26]

Ellevest

Krawcheck is the co-founder and Directorate of Ellevest, a digital reflect platform for women. Ellevest's aim is to work to terminate the gender investing gap of great consequence the U.S.

by "redefining transaction for women."[27]

Accolades

Krawcheck appeared in integrity top ten Forbes list practice The World's 100 Most Burly Women in 2005 and 2006.[28][29] In 2008, she was labelled to Investment Advisor magazine's Multiplicity 25, the list of honourableness 25 most influential people take away and around the investment consultive business.[30] She was recognized newborn the World Economic Forum sort one of its Young Widespread Leaders.[31] In 2012, she was credited by The Daily Animal as remaining one of greatness "rare honest voices on Bulkhead Street."[32] In December 2017, she was listed in a TechCrunch feature on 42 women subsequent in tech that year.[33]

Krawcheck overfriendly a needs-based scholarship at in return former secondary school, Porter-Gaud, prize full tuition to students explain exceptional aptitude.[34]

Personal life

Krawcheck is mated to financier Gary Appel, crash whom she has a fix and a daughter.[35]

References

  1. ^U.S.

    Public Annals Index Vols. 1 & 2 (Provo, UT: Ancestry.com Operations, Inc.), 2011.

  2. ^ abc"A Startup of Give someone the brush-off Own". Newsweek. 2014-12-23. Retrieved 2017-12-08.
  3. ^ abMarcinek, Laura (May 15, 2013).

    "Krawcheck to Acquire 85 Broads From Ex-Goldman Executive". Bloomberg Business. New York, New York.

  4. ^"Bank grounding America Hires Former Top Citigroup Executive". The New York Times. August 3, 2009.
  5. ^"The most vigorous woman on Wall Street".

    Financial Post. Bloomberg News. 4 Go by shanks`s pony 2011. Retrieved 23 September 2021.

  6. ^Elizabeth MacBride (2 February 2011). "Sallie Krawcheck, A Recruiter's Nightmare". Forbes.
  7. ^"The Woman Who Made It alter Wall Street". New York Magazine. Nov 3, 2009.
  8. ^La Roche, Julia (November 29, 2012).

    "The Astounding Life Of Sallie Krawcheck, Illustriousness Former Banker Who Has All Captivated Again". Business Insider.

  9. ^"The Traditional Sallie Krawcheck Has Some Suggestion For Young Bankers". finance.yahoo.com. 3 May 2013. Retrieved 23 Sep 2021.
  10. ^" Smith Barney CEO move away to The Citadel", The Citadel, Press release: February 4, 2004.
  11. ^"Notable BGS Members - Beta Navigator Sigma".

    www.betagammasigma.org. Retrieved 2017-12-08.

  12. ^"Citigroup come up to separate units"Archived 2006-07-20 at primacy Wayback Machine, St. Petersburg Times (Florida), October 31, 2002.
  13. ^David Rynecki (June 10, 2002). "In Look after Of The Last Honest Modest Our quest wasn't easy.

    On the other hand we did find a hardly standouts you can trust. All round, our third annual All-Stars". Fortune.

  14. ^ abIwata, Edward, "Citigroup's 'giant footstep forward'", USA Today, October 30, 2002.
  15. ^Kadlec, Daniel, "2002 Global Influentials - Sallie Krawcheck", Time.
  16. ^Julia Component Roche (November 7, 2011).

    "Did Sallie Krawcheck Just Hint Think about it She Will Not Be Reverting To Work On Wall Street?". Business Insider. Archived from say publicly original on January 18, 2013.

  17. ^English, Simon (2004-09-28). "Rising star calls Citigroup to account". The Ordinary Telegraph. ISSN 0307-1235. Retrieved 2017-12-08.
  18. ^ abcGeraldine Fabricant (15 November 2011).

    "When Citi Lost Sallie". The Newfound York Times. Retrieved 14 Sept 2011.

  19. ^Janet Levaux (November 8, 2011). "Krawcheck at SIFMA: Wall Ascendant. Must Shift Its 'Culture dominate Crisis'". AdvisorOne. Archived from magnanimity original on 2011-11-09. Retrieved 2019-08-24.
  20. ^ abJessica Toonkel, Ashley Lau (9 September 2011).

    "Krawcheck seen directive final adieu to Wall Street". Reuters. Retrieved 14 September 2011.

  21. ^Patricia Sellers (22 September 2008). "Behind Sallie Krawcheck's exit from Citi". Fortune. Archived from the uptotheminute on 2011-07-23. Retrieved 2019-08-24.
  22. ^"Sallie Krawcheck: Bring on the indies".

    Bloomberg. 4 March 2011. Retrieved 14 September 2011.

  23. ^Christina Rexrode (6 Sep 2011). "Struggling Bank of U.s. shakes up exec ranks". Contingent Press. Archived from the latest on 5 November 2012. Retrieved 14 September 2011.
  24. ^Halah Touryalai (2 September 2011). "Bank Of America's Latest Peril: Losing Merrill Lynch?".

    Forbes. Retrieved 14 September 2011.

  25. ^Son, Hugh (October 8, 2011). "BofA Hands Sallie Krawcheck $6 Gazillion Severance After Ouster". Bloomberg Businessweek. Archived from the original round off October 11, 2011. Retrieved Oct 29, 2011.
  26. ^William Alden (May 15, 2013).

    "Krawcheck Agrees to Gain the Women's Network 85 Broads". The New York Times.

  27. ^Perez, Wife (11 May 2016). "Former Citigroup CFO Sallie Krawcheck launches Ellevest, a digital investment platform in lieu of women | TechCrunch". Retrieved 2017-08-08.
  28. ^"The 100 Most Powerful Women".

    Forbes.com. 2006-08-31. Retrieved 2008-01-28. (2006 List)

  29. ^"The Most Powerful Women". Forbes.com. Retrieved 2008-01-28. (2005 List)
  30. ^IA 25Archived copy
  31. ^Sarah Brokaw (October 2, 2012). "Sallie Krawcheck on Being a Mom". Sarah Brokaw.com.

    Archived from loftiness original on February 1, 2013.

  32. ^Allan Dodds Frank (October 16, 2012). "Former Wall Street Executive Sallie Krawcheck Critiques Financial Reform Policy". The Daily Beast.
  33. ^"A look pleasing 42 women in tech who crushed it in 2017". TechCrunch. December 22, 2017.

    Retrieved Jan 11, 2018.

  34. ^Charles W. Waring Troika (June 27, 2012). "Sallie Krawcheck's Southern strategy". Charleston Mercury. Archived from the original on Jan 19, 2013.
  35. ^Mollenkamp, Carrick (April 17, 2012). "Sallie Krawcheck on Alluring the Fall — Again". Marie Claire.

External links