Krawcheck: Ellevest is 80% women and 50% people of color
Sallie Krawcheck · Think like an outsider (with Sallie Krawcheck, Shellye Archambeau, Tope Awotona) | Masters of Scale · Aug 22, 2023 · at 20:27
Ellevest co-founder and CEO Sallie Krawcheck discusses how hiring diverse outsider talent matches their customer demographic compared to traditional finance.
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“Whereas our industry is 80% men, L of us were 80% women, we're 50% people of color.”
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More from Sallie Krawcheck
Krawcheck: Women hold 30% of white male wealth; Black women hold 1%
“Women have 30 cents of wealth to every dollar a white man has. Black women have a penny.”
Krawcheck found photocopies of male genitalia on her Salomon desk daily
“I would come in every day, and there'd be a Xerox copy of male genitalia on my desk, which was, for a young lady from Charleston, South Carolina, was a little horrifying.”
Krawcheck: Wall Street research and investment banking have irreconcilable conflicts of interest
“Our analysts on Wall Street were doing investment banking and research for two different sets of clients where the conflicts were 1000% clear. If you were giving one good advice, you were giving the other bad advice.”
Citigroup fired Krawcheck for advocating client reimbursement during the financial crisis
“Happily, the reason that I was fired from Citi during the financial crisis, and now a decade plus ago, was because I had advocated for returning client money.”
Krawcheck: Escalating a CEO disagreement to the board guarantees getting fired
“If you ever take the CEO onto the board, you will be fired. It's just going to happen. You may win, you may lose. Whatever happens in the battle, you will be fired.”
Krawcheck: Ellevest freezes hiring if diversity metrics drop below internal benchmarks
“Today, we're two-thirds women at the company. We're 40% people of color. Our engineering team is half women. And any time we move off of those kind of diversity levels, you know, I say, we just stop hiring, and then force everybody to make sure that we continu…”