Regionals

Updated Saturday, May 18, 2013 as of 1:59 AM ET

Industry - Regionals

Krawcheck to Acquire 85 Broads From Former Goldman Executive

(Bloomberg) -- Sallie Krawcheck, the former senior executive at Bank of America Corp. and Citigroup Inc., agreed to buy 85 Broads, the global network with 30,000 members that promotes women as business leaders.

Krawcheck is buying the firm from founder Janet Hanson, a former executive of Goldman Sachs Group Inc., according to a statement on the 85 Broads website. Hanson will keep a stake and become chairman emeritus, according to the statement, which didn�t disclose terms.

The deal puts Krawcheck at the head of her own company after stints in the top ranks of the nation�s biggest lenders. Since then, Krawcheck has turned the spotlight on research that shows increased participation by women improves shareholder returns and helps the economy.

�For most of my career, I tried to avoid the topic of being a woman in business, vaguely concerned that talking too much about it would hold me back in some way,� Krawcheck wrote on her LinkedIn page. �But I�ve been thinking about it over the past year ... a lot.� Krawcheck said �the research and business case for the economic advancement of women is so compelling, in a world deeply in need of greater economic prosperity.�

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