One possibility is that Ms. Krawcheck was arguably the most powerful woman on Wall Street.
FORBES: For Merrill Brokers, Krawcheck Exit Is Yet Another BofA-Induced Headache
Both Krawcheck and Price will receive healthcare benefits until the severance agreement expires next year.
FORBES: Bank Of America Coughs Up $11 Million To Ousted Execs
They recruited Krawcheck in to solve their problems, as the CEO of Smith Barney.
Sallie Krawcheck was reassigned from the CFO's office to head the wealth management unit.
Krawcheck had been at Bernstein and had a fine reputation as a research analyst.
Sallie Krawcheck is referred to as one of the most successful and influential executives in financial services.
Krawcheck was in charge of Smith Barney during the period that these women weren't being treated fairly.
Krawcheck was brought in to solve a problem during economic turmoil, which would become a pattern for her career.
So if you are Sandy Weill and you have two problems to solve, selecting Sallie Krawcheck solves them both.
One surprise exit was Sallie Krawcheck who is one of the top women on Wall Street and a former Citigroup executive.
Ms. Krawcheck, who I have never met, has surely had a very successful career and been paid huge amounts of money along the way.
Now, Buffett, Sheryl Sandberg, Sallie Krawcheck, and several other high-level executives are hoping to level that playing field by serving as mentors to Millennial women.
In a recent issue of Marie Claire, Krawcheck said she reached out to some BofA board members about what she could have done differently.
Krawcheck was said to have been unhappy in her role as CFO in recent months, taking flak from investors and analysts for the flailing financial performance of Citi.
One might presume that Krawcheck had been in a position to exercise some control over, or to at least call someone's attention to, the looming catastrophe.
Krawcheck was let go last month 6 amid a major management restructuring at BofA. Joseph Price, president of consumer and small business banking, was also given the boot.
FORBES: Bank Of America Coughs Up $11 Million To Ousted Execs
Krawcheck has a background as a research analyst and has been criticized for lacking the depth of experience that many other CFOs of companies the size of Citi would normally have.
Sallie Krawcheck , the chief financial officer, told analysts that the expenses won't recur in the second quarter and that she expected to see a "quick return" on the program.
At the time of the e-mails Citi owned Smith Barney, the retail wealth management arm of the bank made up of thousands of financial advisors and led by Sallie Krawcheck.
FORBES: Did Citi Dupe Its Own Employees About Risky Investments?
Lewent, now retired as the chief financial officer of Merck, attended a charity dinner in my home for the Women's Campaign Fund a decade ago, but I have never met Krawcheck.
In Sept. 2008, Krawcheck was let go at Citi by Vikram Pandit with whom she reportedly disagreed about compensating Citi clients who had been sold toxic products on which they lost money.
Merck (nyse: MRK - news - people ), attended a charity dinner in my home for the Women's Campaign Fund a decade ago, but I have never met Krawcheck.
Many analysts like de Molina and say he has the years of experience in handling the nuances of interest margin management that Krawcheck, who comes more from a research background than an accounting background, lacked.
Here, Mr Moynihan has used the scalpel rather than the cleaver, getting rid of Sallie Krawcheck, the head of the division, earlier this month but sparing Merrill in the bigger round of cuts.
Moreover, Sallie Krawcheck, hired with great fanfare from Sanford Bernstein, a house known for its independent research, to show Citigroup's good intentions, will have to report to a board committee rather than to Mr Weill.
On September 6 BofA CEO Brian Moynihan announced a major management shuffle that found Krawcheck and Price out of jobs while David Darnell and Tom Montag were named to the newly-created positions of co-chief operating officers.
FORBES: Bank Of America Coughs Up $11 Million To Ousted Execs
One hopes that we both made a difference and helped open the door for Sallie Krawcheck, many years our junior, even in inhospitable Wall Street where the number of women at the top is still almost negligible.
He remains chairman of the investment bank, a key source of growth for the company, and he will take over for Thomson as head of wealth management until a successor for Krawcheck in the chief financial officer role is found.
Krawcheck could not be reached for comment.
FORBES: Did Citi Dupe Its Own Employees About Risky Investments?
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