Sallie Krawcheck

Citigroup has moved chief financial officer Sallie Krawcheck to run its wealth management business. Krawcheck becomes chairman and chief executive of Citigroups' global wealth management division, replacing Todd Thomson, whose next move... [more]

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Citi files plans to spin off Primerica in IPO

From: www.ap.org

Citigroup Inc. filed plans for an initial public offering of its Primerica Inc. life insurance unit late Thursday, and said it will sell the rest of the unit after it goes public. Divesting Primerica is part of Citi's effort to simplify its operations and raise cash. The bank, one of the hardest hit during the credit crisis and recession, has reported huge losses in the past two years as its investments and consumer loans and credit cards soured. Citi will sell all the Primerica shares being offered in the IPO, and receive all proceeds from the stock sale. Primerica has about 100,000 sales representatives ... Read Full Story

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BofA exec Sallie Krawcheck joins BlackRock board

From: www.ap.org

Investment manager BlackRock Inc. on Friday said Bank of America executives Sallie Krawcheck and Mark D. Linsz joined its board. Under the terms of BlackRock's stockholder agreement with Merrill Lynch, the brokerage may designate two directors to BlackRock's board. Bank of America bought Merrill a year ago amid the market meltdown, and completed the purchase in January. Krawcheck, 44, is president of global wealth and investment management for Bank of America, and former chief financial officer for Citigroup. She stepped down from the board of computer maker Dell Inc. last week, citing the need to focus on her duties with Bank of America. Linsz, ... Read Full Story

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BofA's brings back iconic Merrill Lynch logo

From: www.reuters.com

NEW YORK (Reuters) - Bank of America Corp <BAC.N> will spend as much as $20 million in the fourth quarter of 2009 to relaunch Merrill Lynch's name and long-time bull logo. The former Merrill Lynch and & Co's operations will now be known as Merrill Lynch Wealth Management, and be one of two primary units in Bank of America's Global Wealth and Investment Management division, Sallie Krawcheck, the division's president, told a press conference. She called the Merrill Lynch operations and the U.S. Trust business, the other main unit, two of the industry's "crown jewels," adding that she feels the industry is beginning to ... Read Full Story

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Bank of America, McCann in settlement talks

From: www.reuters.com

NEW YORK (Reuters) - Lawyers for Bank of America Corp <BAC.N> and former Merrill Lynch & Co brokerage chief Robert McCann were in talks Wednesday to resolve his lawsuit accusing the bank of blocking him from taking a job with a rival. McCann sued the largest U.S. bank last month, seeking to lift a "non-competition" clause in various Merrill agreements and thus freeing him to take a job with a rival. Published reports said the rival was Swiss bank UBS AG <UBSN.VX>. Bank of America is arguing that McCann must stay put through January 2010. The bank bought Merrill on January 1. The outcome ... Read Full Story

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Sallie Krawcheck resigns from Dell board

From: www.ap.org

PC maker Dell Inc. said Tuesday Sallie L. Krawcheck is resigning from its board to focus more on her work at Bank of America Corp., which she recently joined as president of its global wealth and investment management division. Shantanu Narayen, president and CEO of software company Adobe Systems Inc., has been named to Dell's board effective immediately. Narayen, 46, will stand for election at Dell's next shareholder meeting. He has served as Adobe's CEO since 2007. Bank of America in August named Krawcheck, a former Citigroup Inc. chief financial officer, to the global wealth post as part of a series of management changes. ... Read Full Story

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Sallie Krawcheck receiving the University Medal for Excellence

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Citigroup Executive Pulls Out of Sham ACORN Panel Under Pressure

Citigroup executive Eric Eve has resigned from ACORN's phony, allegedly independent advisory panel, a move that removes one of the few people on the panel who could even remotely claim to actually be independent. If you read between the lines, it also seems to mean Citigroup agrees the panel is a sham. According to ACORN, the advisory council was established in early 2009 "to help facilitate a transition to a new...

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