Citi’s chief executive Vikram Pandit and former Merrill Lynch global weath management head Sallie Krawcheck are speaking at today’s SIFMA annual meeting.
The pair will be speaking at different times (8 and 9:30) during the conference on financial reform.
That’s probably a good thing.
Here’s how their reportedly rocky relationship started.
In 2001, Krawcheck was selected by Citi’s former chief Sandy Weill to run the Smith Barney because of her good reputation on Wall Street. She was known for her brains, honesty and integrity.
Then in 2004 she took the dual role of head of strategy and chief financial officer. She was CFO for three years and in 2007 she was the head of Citi’s wealth management business.
She eventually left Citi because of a falling out with Citi’s chief executive Pandit.
In the fall of 2008 after reportedly fighting with Pandit over payments to clients who invested in hedge funds and auction-rate securities that turned out to be bad.
Krawcheck felt strongly that the bank had a responsibility to pay investors back for the toxic securities sold to them.
In a later interview with Crains’ New York, she freely spoke about all of the other executives she worked for, but said “pass” with Pandit’s name came up.