Chair, Pax Ellevate Management LLC
Sallie Krawcheck’s professional mission is to help women reach their financial and professional goals. This spans several businesses: she is the CEO and Co-Founder of Ellevest, a digital investment platform for women. She is also the Chair of Ellevate Network, the global professional woman’s network. And she is the Chair of the Pax Ellevate Global Woman’s Index Fund, which invests in the highest-rated companies in the world for advancing women. She is also the author of Own It: The Power of Women at Work, released in January 2017.
Sallie is the past CEO of Merrill Lynch Wealth Management, the largest wealth management business in the world, at $2.2 trillion in client balances.
She has a track record of turning around and innovating to drive growth in a number of businesses. These include:
- Reversing the decline in Merrill Lynch’s profitability and Advisor headcount and stabilizing US Trust while at Bank of America, gaining share across the wealth management businesses;
- Separating research from investment banking at Citi, to restore the business’ reputation and profitability in the wake of the Wall Street research scandal;
- Substantially growing Sanford Bernstein’s research business by avoiding the conflicts of investment banking; and
- Integrating and launching the innovative Merrill Edge, Merrill Lynch’s on-line offering.
In addition, alone among senior Wall Street executives, Sallie reimbursed individual investor clients for a portion of losses incurred during the financial downturn from poorly performing products sold by Citi and, later again, at Bank of America.
Prior to joining Bank of America, Sallie was the CEO and Chair for Citi Global Wealth Management, responsible for Smith Barney, the Citi Private Bank, and Citi Investment Research. During her time at Citi, she was also a member of the senior leadership committee and executive committee.
Sallie joined Citi in October 2002 as Chair and CEO of Smith Barney, where she oversaw the global management of the Smith Barney and Citi Investment Research businesses. In 2004, she was appointed Chief Financial Officer for Citigroup. In this role she was responsible for a number of asset dispositions, including the sales of Travelers P&C and Citi Asset Management.
Prior to joining Citi, Sallie was Chair and CEO of Sanford C. Bernstein & Company. She began her career as a research analyst, covering the financial services industry, a role in which she was consistently ranked first in her field by “Institutional Investor.”
Sallie was named number nine on Fast Company’s 2014 “100 Most Creative People in Business” list, as well as one of “10 Up and Coming Leaders to Watch” by Entrepreneur Magazine. During the research scandals, Fortune Magazine called her “The Last Honest Analyst” and noted that hers was the most influential voice for research quality and integrity. She has been listed as one of Forbes’ and Fortune’s “Most Powerful Women” in business and U.S. Banker’s top “Woman to Watch.” She is a past recipient of CNBC’s “Business Leader of the Future Award,” was one of Time magazine’s “Global Business Influentials,” Fortune’s “Most Influential Person Under the Age of 40” and an “Institutional Investor” top CFO in financial services. She was recognized by the World Economic Forum as one of its Young Global Leaders.
A native of Charleston, South Carolina, Sallie attended the University of North Carolina at Chapel Hill on the Morehead Scholarship and graduated in 1987 with academic honors in Journalism and Political Science. In 1992, she received a Master of Business Administration from Columbia University.
An active participant in the affairs of her alma maters, Krawcheck has endowed her former secondary school, The Porter Gaud School, with the Krawcheck Scholarship, a needs-based scholarship awarding full tuition to students of exceptional aptitude. She is on the Board of 2U, Digital Asset, and Columbia University Business School. Sallie is a past member of the Board of Directors of Dell Inc, Blackrock, Carnegie Hall and the NY Economic Club.