Personal and Professional Background
Early Life and Education
Sallie L. Krawcheck was born on November 28, 1964. She grew up in Charleston, South Carolina, and attended the Porter-Gaud School where she was involved in track and field. Krawcheck was honored as a South Carolina Presidential Scholar in high school and received a Morehead Scholarship to the University of North Carolina at Chapel Hill, graduating with a degree in journalism. She later earned an MBA from Columbia Business School.
Career Overview
Krawcheck is a Wall Street trailblazer with over 25 years of experience in the financial services industry. She has held prominent positions such as:
- Chair and CEO at Sanford C. Bernstein & Co.
- CFO and CEO of Citigroup's Smith Barney division.
- Head of Global Wealth and Investment Management at Bank of America.
Current Role: CEO and Co-Founder of Ellevest
In 2014, Sallie Krawcheck co-founded Ellevest, a digital investment platform focused on women, aiming to close the gender investing gap in the U.S. Ellevest, launched in 2016, was built based on the belief that traditional financial services failed women by not addressing their specific needs and challenges. Krawcheck has successfully led Ellevest to substantial growth which includes:
- Serving a community of over 3 million women.
- Managing $2 billion in assets.
- Securing a $53 million Series B funding round.
- Achieving recognition as the "#1 Mission-Oriented Investing Service" by Bankrate.
Industry Recognition and Accolades
Sallie Krawcheck has earned numerous accolades throughout her career, including:
- Named “The Last Honest Analyst” by Fortune for her impartial advice.
- One of the “Most Influential People in ESG Investing” by Barron’s.
- Included in the top ten of Forbes' lists of The World's 100 Most Powerful Women in 2005 and 2006.
- Recognized by the World Economic Forum as one of its Young Global Leaders.
- Listed in a TechCrunch feature on 42 women succeeding in tech in 2017.
Leadership Philosophy
Krawcheck advocates for a fiduciary standard in the brokerage industry and has demonstrated a consistent push for transparency and consumer protection throughout her career. At Ellevest, she has emphasized diversity and inclusion, evidenced by:
- 84% of leadership positions held by women, compared to the industry average of 23%.
- 50% of leadership positions held by people of color, which surpasses the industry average of 11%.
- 83% of board members at Ellevest are women, significantly higher than the industry average of 20%.
Ellevest: Company Mission and Impact
Ellevest is dedicated to helping women build wealth, based on the principle that empowering women financially benefits everyone. This commitment manifests through their services and company culture designed to be inclusive and female-focused:
- Ellevest's mission aligns with Krawcheck's broader goal of closing the gender investing gap and providing tailored financial advice to women.
- The company boasts a comprehensive suite of services, including automated investing, financial planning, and wealth management, aimed at meeting women at all stages of their financial life.
- Ellevest is supported by women-led VCs and industry experts, including Rethink Impact, Halogen Ventures, Cleo Capital, and The Venture Collective.
Notable Achievements Under Krawcheck's Leadership
- Guided a financial advisor attrition turnaround at Smith Barney.
- Led Bank of America's Merrill Lynch Wealth Management to profitable quarters during challenging financial periods.
- For Ellevest, securing a significant community and robust financial backing, positioning the company as a leading platform for women's financial empowerment.
Typically recognized for her honesty, leadership, and innovation, Sallie Krawcheck continues to drive Ellevest towards major milestones, ensuring the company's mission to empower women financially stays at the forefront.
This profile provides a comprehensive overview of Sallie Krawcheck's significant contributions and leadership in the financial services industry, with a focus on her current role at Ellevest. The data herein highlights her efforts to create a more inclusive investment environment and her achievements in driving financial empowerment for women.
