Behind Sallie Krawcheck’s exit from Citi

First, John Reed. Next, Jamie Dimon. Now, Sallie Krawcheck. As I know about Sallie a little more than the average guy, I am certain she will be fine. For Citi’s investors, I feel bad.

Auction Rate Securities: Who is to Blame?

http://www.beyondthemargin.net/2008/08/auction-rate-securities.html

I have followed Sallie’s career with great interest as I knew her to be a very bright and multi-talented high school contemporary. She will be well received wherever she goes with her wisdom, grace and tenacity!

For whatever reason it appears that someone is attempting to smear Ms. Krawcheck by repeatedly writing the same comments under different names. Whatever floats your boat but I have a feeling Ms. Krawcheck’s ethics, intelligence, and humanity will continue to serve her and the organization she eventually goes to in good stead. As for the person who is writing the comments. He/she will remain the bitter, small-minded, vindictive also-ran they’ve always been.

This Pandit nut doesn’t seem to get along with women well in general read the history between him and ZOE CRUZ at morgan stanley…..and wow he wanted to screw the customes on Auction Rate Securities something all the other heads of walls street firms have agreed not do…… he’s going to screw up the wealth management division having someone with absolutely no back ground in brokerage or private banking run it

To RCH from NY- I’ve gleaned what I know of Sallie Krawcheck from what people WHO HAVE WORKED WITH HER have written- so if you have personal experience we should be aware of then share it- otherwise you are just wasting time and comment space with your negative cryptic allusions- which, by the way, doesn’t impress me with intelligence.

I have to agree with BC and Lulu. My understanding is that while Sallie may have been liked by the Smith Barney legions, the Private Bank was not in concurrence. Her decision to merge the Private Bank with the retail brokerage was and is problematic to say the very least. Many believe that she has destroyed the Private Bank franchise. She was known to be difficult and more lucky than incredibly smart – basically promoted beyond her abilities.

Citi shouldn’t have fired JAMIE DIMON in the first place. It’s like kicking the only competent pilot from the plane 30,000ft. above sea level. That was the biggest mistake ever of Citi.

One more senior, competent and experienced woman to go… I know, by experience, how hard it is to survive at the financial markets, doing an honest work with high ethical standards. At Citigroup very very few women – especially those who have solid opinions – survive the aggressive, disgusting and machist corporate politics.

I hope Mrs. Krawcheck keeps her high ethical standards and that next time, she uses her outstanding background experience and talents for a better cause at any corporation worth having her in her full freedom to create value.

I just LOVE reading all these positive comments about Sallie FROM people who don’t know her as well as knowing a hole in a wall.

You haven’t worked with her. Stop jumping on the bandwagon of “She must be great because I’ve read that she’s great”. Learn to get the facts, not conjecture, and THINK for yourselves.

Maybe VP (Velcro Panda) should sack himself, looser that he is, and spend his latter days munching on the only green he will ever be capable of harvesting…eucalyptus.

Let me be brutally honest. No offense to Sallie Krawchek. Americans are great people but they are still not there accepting decisions as fair those made especially by Indians.It is not easy for a non white to be the CEO of Global entity and push out super stars. Every second there are people who question the decisions or scheming to bring false accusations.Talking from experience having seen many cases in Fortune corporations. I will bet my last dollar Pandit’s move is correct.

Sorry to say I don’t know a thing about her but will tell her thank you. For all the clients that she stood up for and made Citi assume the responsibility in returning their capital. A job well done that shows that there are proper moralistic individuals out there. We need more people with her convictions.

I dont think women can take comfort over these women who simultaneously
broke the glass ceiling and guided their respective financial institutions into the greatest financial crisis since the Great Depression.

Pandit sounds like your out to screw your customers, what a two face, attempting to woo,wow, win your customers by ultimate secrets

Citi is losing too many courageous and talented women executives. This is the third in two weeks.

GWM was not growing recently and all the growth in previous years came from playing with the internal P&L, not new asset flows. She has bascially destroyed the franchise value of the Private Bank by combining it with Smith Barney. On top of that it was on her watch that a lot of the risk capital was allocated to the toxic CDOs that are killing the firm. Citi is better off without her.

Men at Citi dont have the balls to handle women with guts….

Who really cares? There are a lot of talented people in the world. Perhaps someone new can now get a shot. We tend to get fixated on one person and tell ourselves that s/he is the “be-all and end-all.” No one really is.

Sorry to burst everyone’s bubble but I have heard otherwise — senior execs found Ms. Krawcheck “underwhelming”. I also know staff that have worked with her and said she has a “huge ego”, can be awkwardly flirtatious in her manner and tends to repeat the same cheesy jokes in meetings and office tours. The ego part certainly sounds right given her displeasure with Mr. Pandit’s reassignment??

As a woman, I admire and look up to corporate women leaders but everything I have heard is that she is smart but mostly VERY VERY lucky. There are still many sensible mid and senior level folks there who are turning the big ship around, albeit slowly.

It may be a hasty decision,these are challanges to be faced and show them who she is and what she can do for the big corporate like Citi.

A mix of smarts, success AND integrity?

I’m in love!

Treasury Secretary anyone? Timing’s right!

This article is just feminist crap. The author is a known feminist who constantly promotes her sexist gender agenda. The women who were dumped from Wall Street, including Krawcheck, deserved to be dumped because they screwed up just like many men who screwed up also got canned. She was in charge of global wealth and she should have had a better handle on auction rate securities and how they were being marketed to investors. She was at the helm and drove the ship into an ice berg. She didn’t truly understand the liquidity risk associated with auction rate securities and was the person on top while the hedge funds blew up too.

Grow up, ladies. Don’t think that you can ask for top jobs and then be spared the ax when everything goes down the toilet. And stop crying “sexism” anytime you get called to task for it. She was in charge and things went bad under her watch; end of story. Time to suck it up girls and learn to be a man about it and take responsibility. It would be nice to get more honest, objective , and unbiased reporting for a change instead of these neo-femenazi reporters who insist on misusing the press to promote their own gender agendas.

Sallie will make it anywhere because she is a capable human being. The same can’t be said for Pandit.

Sallie K certainly looks the part. When it comes to management and leadership skills, though, there is no one there – there is no one elsewhere too, that is true. But her smile and good analyst track record cannot now overshadow her lack of results at C under two CEOs.

Sallie is a great loss to Citi. She is a huge talent and an enormously talented leader and strategist. She is truly one of the top women leaders on Wall Street. I am sure she will land somewhere very meaningful.

Thank you Patricia for writing this excellent insightful piece on Sallie.

Kirsten Lewis

Citi doesn’t deserve someone like Krawcheck on their payroll. Just goes to show you where Pandits’ interests lie. I don’t think her star has dimmed with this move – it actually seems like now the Citi-tarnish can be wiped off. She will do much better elsewhere.

Citi’s loss…..

Hats off to Ms. Krawcheck for continuing to hold dear the high values that defines who she is! Doing the right thing for customers in the face of negative impact to corporate profit takes a strength of character almost never seen these trying days! Job well done!