Top Wall St exec - glad to be fired

Departure

You're fired (twice).

Sallie Krawcheck used to be the most powerful woman on Wall Street - before two very public sackings at the height of the financial collapse.

The BBC reports that, now the head of women's networking organisation 85 Broads, she says she's grateful she was fired.

From 2007-2011, Ms Krawcheck held prominent roles at banks Citigroup and Merrill Lynch.

Those positions made her, arguably, the highest ranking woman on Wall Street.

But, at the height of the financial crisis of 2008-2009, she had very public clashes with Vikram Pandit, the then chief executive of Citigroup, over her insistence that the bank should repay investors who had lost money using defective financial instruments that Citi had created.

Eventually, she was forced out - a fate that would once again befall her, just a few years later, after taking on the role of chief executive at Merrill Lynch, a subsidiary of Bank of America.

Although those firings certainly stung, they gave Ms Krawcheck an epiphany - in times of distress, companies react by closing ranks, and diversity, particularly gender diversity, suffers.

'What I saw a thousand times during the downturn was, 'We'd like to give her that opportunity, but we need to go with the sure thing - we can't afford diversity right now', she says.

To access the complete BBC article hit the link below:

Sallie Krawcheck: Wall Street boss who was glad to be sacked

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