The Queen of Wall Street is back. This week, Sallie Krawcheck announced a new fund that promotes women’s leadership: The Pax Ellevate Global Women’s Index Fund (PXWEX), which allows investors to create portfolios or retirement accounts that target publicly traded companies with the highest percentages of women in senior positions. It’s another step in Krawcheck’s plan to address Wall Street’s gender problem.
Sallie Krawcheck has been pushed out of two executive positions since she started working on Wall Street in 1987. She left Citi Group in the fall of 2008 after reportedly disagreeing with its CEO, Vikram Pandit, on how best to protect client’s money. From Citi she went to Bank of America Merrill Lynch, where she served as the Head of Global Wealth Management. In September of 2011, she was pushed out again.
Fusion’s Alicia Menendez sat down with Krawcheck to find out about why she was let go, if she regrets fighting for her clients, and what Wall Street needs to do to avoid another financial crisis.
“I remember… standing at that line and sort of doing a gut check,” Krawcheck told Menendez about her decision to fight for the return of her client’s money when she served as CFO of Citi Group. “If I take one more step fighting for these clients, I’m going to get fired.”
When Menendez asked if she regretted her decision, Krawcheck answered boldly, “I’d do it again. Every day.”
Watch the first part of our interview with Krawcheck here.
Credit: Claudia Pou, Alicia Menendez, Victoria Moreno, Cleo Stiller