Feb. 12 (Bloomberg) — Sallie Krawcheck, the former Bank of America Corp. and Citigroup Inc. executive, said women haven't climbed Wall Street's corporate ranks after the 2008 credit crunch because men tend to hire people like themselves when facing a crisis.
"What the research shows is that when we're under periods of stress," executives are more comfortable with candidates who "look like" them, Krawcheck said today in an interview on Bloomberg Television. "It's not that we've even gone sideways as we have in corporate America, we've gone backwards."
While women have risen to lead companies in other industries, including at Hewlett-Packard Co. and General Motors Co., there are no female chief executive officers at the biggest Wall Street banks. Krawcheck, 49, is the owner of 85 Broads Unlimited LLC, a network that promotes women as business leaders.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
