Sallie Krawcheck

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Sallie L. Krawcheck, born in 1965, is the CFO for Citigroup Inc.. Originally an equity analyst, she has steadily risen in the ranks of Citigroup, to the point of Forbes naming her as number seven in its list of The 100 Most Powerful Women of 2005.^[1]

In early 2006 Citigroup awarded Krawcheck $4.2 million (value as of January 2006) in restricted shares, which caused the overall value of her Citgroup shares to reach $11.8 million.^[2]

Prior to being CFO, Krawcheck had been the CEO of Citigroup's (then new) Smith Barney unit, which caused her to be listed by Time in its list of "Global Influentials". ^[3] The Smith Barney unit was set-up in order to separate Citigroup's investment banking from its stock brokering and research operations; to avoid the appearance of a conflict of interest in those areas. She was put in charge of 13,000 brokers and analysts of the new retail brokerage unit.^[4] Citigroup hired her away from Sanford C. Bernstein, an independent (at the time) research firm, where she was chairwoman and chief executive.^[5] Sanford C. Bernstein had a reputation for impartial advice that caused Citigroup to seek her to deal with criticisms over conflicts of interest within different parts of Citigroup.^[4]

On Friday, December 8, 2006, Bloomberg TV reported the Citigroup CEO Chuck Prince is setting up Krawcheck to the "fall guy".

[edit] Early life

Krawcheck grew up in Charleston, South Carolina. She attended the exclusive Porter-Gaud School^[6][7]. While in high school, she was a local track star. Subsequently, she obtained a degree in journalism from the University of North Carolina at Chapel Hill. She obtained an M.B.A. degree from Columbia Business School. ^[3]

[edit] References

1. ^ "The 100 Most Powerful Women -- #7: Sallie Krawcheck, Chief financial officer, Citigroup, U.S.", Forbes.
2. ^ "Citigroup awards CEO, others millions in stock", Reuters, January 19, 2006.
3. ^ ^{a b} Kadlec, Daniel, "2002 Global Influentials - Sallie Krawcheck", Time.
4. ^ ^{a b} Iwata, Edward, "Citigroup's 'giant step forward'", USA Today, October 30, 2002.
5. ^ "Citigroup to separate units", St. Petersburg Times (Florida), October 31, 2002.
6. ^ Sallie Krawcheck at Citygroup
7. ^ " Smith Barney CEO coming to The Citadel", The Citadel, Press release: February 4, 2004.

[edit] External links

• "Sallie L. Krawcheck to Become Chairman and CEO of New Independent Citigroup Business Providing Equity Research and Private Client Brokerage Services" (press release), Citigroup Inc., October 30, 2002.
• Profile of Sallie Krawcheck by The John Motley Morehead Foundation