Sallie Krawcheck, who until last September was president of Bank of America Corp.'s Global Wealth Management group, has landed an advisory board seat at Gold Bullion International, which connects institutional investors and wealthy individuals with sellers of precious metals.
As an advisory board member, Ms. Krawcheck joins Gen. Wesley K. Clark; John Hathaway, senior managing director and member of the Investment Committee at Tocqueville Asset Management; former U.S. Securities and Exchange Commission Chairman Arthur Levitt; and Dan Tapiero, who manages a global macro portfolio at SAC Capital.
Representatives from GBI could not immediately be reached for comment, but a prepared statement touted Ms. Krawcheck's track record as a leader in the financial services industry.
“We're extremely pleased that Sallie will be lending her exceptional talent to our team of advisers,” said Savneet Singh, GBI's chief executive officer. “Sallie will provide valuable insight as we further expand GBI's presence in the wealth management and investment communities.”
“Sallie knows financial advisers very well, and there’s probably no one with a better knowledge of the wealth management industry,” Mr. Singh added. “She will be able to give us feedback on the product and how to make it more relevant to advisers, and we didn’t have that on the board before."
Ms. Krawcheck’s position on the board is a non-paying position.
As chief of global wealth and investment management at Bank of America, Ms. Krawcheck oversaw $2.2 trillion in total client balances. Previously, she was ceo and chairman of Citi Global Wealth Management and had built a reputation for turning around troubled businesses. She has been named to the Forbes “World's 100 Most Powerful Women” list six times, and Fortune's “50 Most Powerful Women in Business” five times.
“I saw the value of the GBI model and philosophy as soon as I was introduced to the company and its management,” Ms. Krawcheck said. “Creating a seamless platform and democratizing the ownership of physical gold and precious metals is much overdue and another important tool for investors.”
GBI's technology platform enables clients to acquire and manage their precious metals assets directly through GBI or through their own wealth management accounts.