Updated Sunday, November 23, 2014 as of 4:48 AM ET

Editor's Letter: Diversity May Improve Market Share

It's confession time: I've been a fan of Sallie Krawcheck since her Sanford Bernstein days. Under her leadership, it was one of the few Wall Street firms that realized an "independent" research department was not independent if it took its marching orders from the investment banking side. Krawcheck knew that the only thing a research firm has to sell is its reputation for honesty, integrity and intelligence. She guarded Sanford's reputation like a mother lion. When then-New York attorney general Eliot Spitzer sued to create a true Chinese wall between the research and banking sides of the biggest financial firms, Bernstein emerged unscathed in no small part due to Krawcheck's principled stand.

Get access to this article and thousands more...

All On Wall Street articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

Already a subscriber? Log in here