Sallie Krawcheck Out at Citigroup
Sallie Krawcheck, the Citi group executive (and financial press media darling) who once served as the bank's CFO but was pushed aside and placed in charge of Citi's wealth management division in 2007, is out of a job, according to the Wall Street Journal. Her exit didn't come as much of a surprise to Citi insiders. There has been tension between Krawcheck and Citigroup CEO Vikram Pandit ever since he took over as CEO less than a year ago, and back in May Krawcheck criticized Pandit publicly before later backtracking on her remarks.
But her ouster does mark the end of the line for one of Wall Street's most visible women. (Other high-ranking women on the street who have been shown the door recently include Zoe Cruz, who was forced to resign as co-president of Morgan Stanley in late 2007, and Erin Callan, who was ousted by Lehman CEO Richard Fuld in June).
Unfortunately, Krawcheck's departure also coincides with the publication of a cover story on her in Forbes Executive Woman. (Not online, unfortunately.) When asked how she she'd managed to mend her relationship with Pandit, Sallie said the trick was "communication, communication, communication."
