Sallie Krawcheck
FameRank: 5

"Sallie L. Krawcheck" is the former president of the Global Wealth & Investment Management division of Bank of America. GWIM includes Merrill Lynch and U.S. Trust, the largest wealth management business in the world at $2.3 trillion in client assets. She has turned around a number of troubled businesses in her career through eliminating conflicts of interests, namely Sanford C. Bernstein & Co., Smith Barney and Merrill Lynch/Merrill Lynch & Co., Inc., and has been known as one of the most senior women on Wall Street. Most recently she has been widely published in both social and more traditional media, focusing on Wall Street regulatory reform; she is also advising a number of start-ups. On May 15, 2013, she agreed to buy the global women's network 85 Broads from its founder, Janet Hanson.

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We're pleased by what we see.

The pipeline continues on record levels for the corporate and investment bank.

Downgrades like that one take particular courage, not just because it upsets company management -- which we are always okay with doing -- but because it's telling clients things they don't necessarily want to hear.

For banks to be global, they need to -- in their estimation -- have a strong securities presence. For companies to have a strong securities presence internationally and globally they have to have a strong presence in the U.S.

Some of it is because things haven't worked out as well as we hoped.