Sallie Krawcheck is going to Washington. When it was reported last week that Sallie Krawcheck was possibly in the running to be named the new head of the SEC, it came off as surprising news. But now it seems that Krawcheck has been steadily networking for not only this position but possibly for another government role.
According to Reuters, for six months the former executive at Bank of America and Citigroup has been meeting with lawmakers on both sides of the aisle, offering her insights on a variety of issues including “too big to fail banks” and money market fund reform.
Krawcheck, once called the most powerful woman on Wall Street, was considered to be a bit of a left field choice considering she worked at a few of those financial institutions that had to be bailed out, like Bank of America. But others think she would be great. ”She has always been willing to take controversial views and she gets the industry,” said Gary Black to Reuters, global co-chief investment officer at Calamos Asset Management, who worked with Krawcheck when she was at research house Sanford C.Bernstein, and keeps in touch with her. “She brings a practical view on how to regulate the industry.”
In addition to the SEC role she also may be interested in a mid-level position at the U.S. Treasury Department or in a senior role at the new Consumer Financial Protection Bureau, according to Reuters. But some believe she may just take a job at another company.