Sallie Krawcheck, one of the financial industry’s most well-known—and controversial—executives has joined the advisory board of Gold Bullion International, the company announced Wednesday.
The appointment of Krawcheck, who was forced out as President of Bank of America’s Global Wealth Management group in September, is effective immediately.
“We’re extremely pleased that Sallie will be lending her exceptional talent to our team of advisors,” Savneet Singh, GBI’s CEO, said in a statement. “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 was in charge of global wealth and investment management during her tenure with Bank of America, overseeing $2.2 trillion in total client balances. Before joining BofA, she was CEO and Chairman of Citi Global Wealth Management.
“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 joins four other well-known individuals on GBI’s advisory board, including 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.
The GBI platform streamlines the system of purchasing, vaulting and owning physical precious metals. The company claims it is the first 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.”
Recently, GBI also announced a program that allows publicly traded companies to offer shareholders their dividends in physical gold or silver, instead of cash.