Bank CFO Short-Timers
Someone taking the CFO job at a financial firm often has his or her eye on becoming the CEO down the road or on another top job within the company. And when that doesn't happen, it often is time to hit the road.
Indeed, when Citigroup CEO Chuck Prince promoted Krawcheck, most saw it as way of grooming the former hot-shot stock analyst for a bigger and better post at Citigroup. But in the past year, she has become the main lightning rod for criticism of Citigroup's middling financial performance.
People familiar with Citigroup say Krawcheck is still thought well of within the bank. But the heat she drew as CFO may have dimmed her star -- at least for the moment. Some say they wouldn't be surprised if Krawcheck eventually packed her bags.
"In other companies, being a CFO is an end to itself," says Tim Ghriskey, chief investment officer for Solaris Asset Management. "But at a financial company, it's often a grooming position. The perception is it's a bit of a revolving door."When de Molina stepped down from BofA, he was quoted by Bloomberg as saying that the job of CFO was a "little less fun." Bank officials also said the former CFO had expressed an interest in running his own company. Of course, it wasn't always that way. Dina Dublon, once one of the highest-ranking female executives on Wall Street, served as JPMorgan Chase's (JPM) CFO for six years before retiring in 2004. Today, for a bank CFO, that's almost an eternity.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV