“If you have a stretch assignment, just take it.”
— Sallie Krawcheck, chairman and CEO, Citi Global Wealth Managment, said this to Coins2Day’s Geoffrey Colvin in 2006. Krawcheck was Wall Street’s rising star after former Citigroup CEO Sandy Weill recruited her from Sanford Bernstein in 2002 to help lift Citi’s reputation. Citigroup’s troubles have dimmed her prominence, but since two of Wall Street’s other most powerful women, Erin Callan and Zoe Cruz, have lost their big jobs at Lehman Brothers and Morgan Stanley, respectively, Krawcheck once again appears to be the most powerful woman on Wall Street.
Citigroup announced earnings this morning, reporting a $2.5 billion loss, which eased investors worries. The stock is up on the news.