In Sudden Shake-Up On SEC Successor List, Krawcheck Becomes Major Contender

Wednesday, November 28, 2012 23:02
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In Sudden Shake-Up On SEC Successor List, Krawcheck Becomes Major Contender

Tags: Dodd-Frank | regulation | sec

Sallie Krawcheck, a seasoned Wall Street executive, has suddenly become the front-runner to head the SEC after White House appointee Elisse Walter stated she only plans to serve for a short time and Mary Miller, a senior Treasury Department official, dropped out of consideration.

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Miller removed her name from the list, reportedly saying she was not interested in the job.
 
The White House has been interviewing candidates with backgrounds in finance and government over the last few weeks.
 
Other contenders include SEC enforcement director Robert Khuzami and FINRA chairman and CEO Richard Ketchum, although Ketchum is considered a long shot.
 
Krawcheck would be a compromise candidate for the post who is independent and also a consumer advocate.
 
She lacks government experience and some say her Wall Street background may prove problematic in light of lingering consumer ire over the 2008 financial crisis.
 
Krawcheck made a name for herself while working as an analyst at Sanford C. Bernstein. She covered the banking industry and often made negative calls on firms like Citigroup.
 
She became one of the top women on Wall Street in 2001 when she was named chief executive of Bernstein. She later became head of the wealth management division at Citigroup and now writes a blog on linked in, which you can access here.

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