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Tuesday, June 26, 2018

Krawcheck vs the Apple Pie of Capitalism

News summary by MFWire's editors

Sallie Krawcheck is taking fundsters and other financial services executives to task for not hiring enough women.

ThinkAdvisor reports that, in a speech at a conference for her Ellevate Network, Krawcheck called meritocracies the "applie pie of capitalism" but argued that Wall Street is really full of "man-tocracies", not meritocracies.

Krawcheck claims that 90 percent of mutual fund PMs are male (and describes similar discrepancies among traders, FAs, hedge fund PMs, and VC partners).

"Here's the problem: women are better investors than men. Women are better hedge fund managers, we're better mutual fund managers, we're better individual investors," Krawcheck says. "Where's that meritocracy?" 

Edited by: Neil Anderson, Managing Editor

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