Solid New York Times article summarizing women in finance and esp. on Wall Street, apropos of Sallie Krawcheck being taken out of retirement to run Wealth Management at Bank of America.
Women rose on Wall Street in the boom years, when hiring was brisk and a series of lawsuits challenged the domination of men in the industry. . . . .Women have maintained a strong presence in some areas in finance, including wealth management. . . . . “They have moved up because they populate that business,” building client relationships well, Ms. Krawcheck said.
And a growing number of women run investment portfolios at college and prep school endowments. The Harvard endowment, the largest in the United States, is managed by Jane Mendillo.
But in the heart of Wall Street, the aggressive environment on the trading floor is often cited as a reason that women are rare at the top. Others cite the dearth of women to aid in career networking.
The Female Factor
Where Are the Women on Wall Street? byGERALDINE FABRIKANT http://www.nytimes.com/2010/01/28/world/28sallie.html?ref=todayspaper
When Sallie Krawcheck was hired six months ago as president of global wealth and investment management at Bank of America, she was besieged with e-mail messages from current and former Wall Street women celebrating her return to the fray.
Ms. Krawcheck had been forced out as head of a comparable unit at Citigroup in August 2008, a highly publicized departure. Hers has been the only comeback among the three highest-ranking Wall Street women removed during the financial crisis. (more…)
Read the full article: Women on Wall Street: mostly in wealth management and NOT in trading