Sallie Krawcheck has joined the advisory board of New York-based Gold Bullion International, the company recently announced.
"We're extremely pleased that Sallie will be lending her exceptional talent to our team of advisors," said Savneet Singh, GBI's chief executive officer. "She is one of the financial industry's most influential leaders, and her appointment reinforces the strength and depth of our organization and platform."
Krawcheck left her position as president of Bank of America Corp.'s Global Wealth Management group in September as part of a company reorganization led by Bank of America Chief Executive Brian Moynihan.
Before joining BofA, Krawcheck was chief executive officer and chairman of Citi Global Wealth Management. She has been named to the Forbes "World's 100 Most Powerful Women" list six times, Fortune's "50 Most Powerful Women in Business" five times and American Banker's Top Women in Banking list several times.
Now she is joining Gold Bullion's four-person board, which includes Gen. Wesley K. Clark; John Hathaway, senior managing director and member of the Investment Committee at Tocqueville Asset Management; former U.S. Securities and Exchange Commission Chairman Arthur Levitt; and Dan Tapiero, who manages a global macro portfolio at SAC Capital.
GBI is the first company in the industry to technologically integrate onto a wealth management workstation, and allows clients to manage specifically allocated products in a cost-effective manner, permitting the purchase of precious metals as easily as ordering a stock or a bond. "I saw the value of the GBI model and philosophy as soon as I was introduced to the company and its management," Krawcheck said. "Creating a seamless platform and democratizing the ownership of physical gold and precious metals is much overdue and another important tool for investors."
Krawcheck was to receive $6 million following her departure from Merrill Lynch, according to a regulatory filing. That figure breaks down as a $5.15 million one-time supplemental lump-sum payment, plus $850,000, or 52 weeks of her previous base salary.