Sallie Krawcheck, the Chief Executive Officer and Chairwoman of Citi Global Wealth Management, a wealth management unit of Citigroup, resigned from her position today. She is the latest member of Citigroup’s executive team to leave since Vikram Pandit took over as Citigroup’s chief executive in December, 2007.
Sallie Krawcheck, 43, has long been one of the most important women on Wall Street. Citigroup has not been shielded from the recent economic downturn that has crippled many Wall Street banks. The company lost $2.5 billion in the second quarter this year. In an interview earlier this year, however, Krawcheck denied that the Smith Barney unit of Citigroup would be sold.
Citigroup has not issued a statement regarding Sallie Krawcheck’s departure nor has Ms. Krawcheck made public her plans for the future. In 2007, Krawcheck made $11 million.
Sources: Wall St. Journal, Reuters
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