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, she joins retired Gen. Wesley K. Clark; John Hathaway, senior managing director and member of the Investment Committee at Tocqueville Asset Management; former Securities and Exchange Commission Chairman Arthur Levitt; and Dan Tapiero, who manages a global macro portfolio at SAC Capital.
“I saw the value of the GBI model and philosophy as soon as I was introduced to the company and its management. Creating a seamless platform and democratizing the ownership of physical gold and precious metals is much overdue and another important tool for investors,” Ms. Krawcheck said in a statement.
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“Sallie knows financial advisers very well, and there's probably no one with a better knowledge of the wealth management industry,” said Savneet Singh, Gold Bullion International's chief executive. “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.”
Mr. Singh also acknowledged Ms. Krawcheck's ability in the area of business development, saying: “She brings a lot of credibility and will be able to open doors for us.”
He confirmed that her position on the board is nonpaying.
As chief of global wealth and investment management at BofA, Ms. Krawcheck oversaw $2.2 trillion in total client balances. Previously, she was chief executive and chairman of Citi Global Wealth Management and had built a reputation for turning around troubled businesses.
Ms. Krawcheck 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.
jbenjamin@investmentnews.com
