Sallie Krawcheck understands the role that tradition plays at Merrill Lynch. While some may think that heritage is actually a hindrance today, she has reached out in deference to the men that built the Thundering Herd--men such as chief executives David Komansky and Daniel Tully, former chairman of Merrill Lynch International Winthrop Smith Jr., and former chief of the retail unit John "Launny" Steffens, reports Investment News.

The early word from this storied group is that she's a good bet. She has a lot of work, but this is a savvy move to get started. It won't solve some of the thorniest issues facing the brokerage industry and Merrill specifically, but it can make the runway a bit longer when issues crop up. And they will. 

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