Superstition: Krawcheck kills banks

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So just how superstitious are you?

Are you the type that has to wear certain clothes (your lucky underwear?) when your favorite sports team is in action. Are you the type who is convinced that your team lost because you didn't wear said lucky clothes? If you are of that ilk and run a bank, maybe you should consider this advice from MarketWatch: do not--repeat do not---hire Sallie Krawcheck. Bad things will happen.

"Citi tapped Krawcheck as its CFO, and suddenly expenses grew faster than revenue. She was sent back to wealth management, and Citi was forced to sell the unit to Morgan Stanley. At Bank of America, Krawcheck may have performed poorly or simply become one of Brian Moynihan's scapegoats. The brokerage business, made up mostly of the former Merrill Lynch & Co. team, has been stumbling. But that's the case everywhere, not just at Bank of America. Still, the Krawcheck-o-meter has done it again. Layoffs followed Krawcheck's move to, and at, Citi. It's proven true at Bank of America."

This is all in jest of course, at least from my perspective. I'm pretty sure Krawcheck will turn up in a new job--she's young after all--before too long. I would not be surprised if she were once again to become the mythic most powerful woman on Wall Street. We look forward to that day. I think we can all agree that the job of managing Merrill Lynch was pretty thankless. It will be interesting to see how the new manager fares.

For more: 
- here's the article

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