Former Financial Executive Opens Index Fund Focused on Women

Women Leaders Series 2 of 4

The second of our “Women Leaders” series details a financial opportunity for women, by women.

When Sallie L. Krawcheck left her post as president of global wealth and investment management for Bank of America, Wall Street “lost one of its few women at the top,” says National Public Radio (NPR). Re-aligning her goals with that of other women, she now serves as leader of Ellevate, a women’s network of more than 30,000 members.

Krawcheck is still making quite the wave in the world of finance and in June she announced that Ellevate was joining Pax World Management, a fund management company, to “offer an index fund focused on companies where women make up a significant portion of officers and directors,” as reported by The New York Times.

After discussions with Ellevate members, Krawcheck decided she wanted to “move from advocacy of women to the smart business of real investment in women” and joined the index fund business. The fund, named the Pax Ellevate Global Women’s Index Fund, “focuses on a selection of companies that are culled from a global index according to the gender diversity of their top ranks,” according to The New York Times article, “Sallie Krawcheck Opens an Index Fund Focused on Women.”

Krawcheck focuses on encouraging women in business and often speaks on the matter. Through Ellevate, she encourages women to negotiate for a higher salary.

During her interview with NPR, she shares what she saw in a piece of research that showed, “on average, when men enter a negotiation, they’re focused on coming out the other side winning. And when women enter a negotiation, they’re more focused on coming out the other side with the relationship intact.”

Although Krawcheck understands the importance of relationships in business, through Ellevate she aims to share research on how to ask for a raise, how to get on a board and other topics so women can feel empowered and show more confidence in the workplace.

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