Sallie Krawcheck, the head of Citigroup-Smith Barney’s wealth-management unit and its 14,900 advisors, is reportedly expected to step down from the company.
Since Vikram Pandit became CEO in December 2007, the company has been restructured, and several top executives have left. The company intends to move the wealth-management unit into the institutional-clients group, according to the Wall Street Journal.
Michael Corbat, the head of the corporate and commercial banking, could replace Krawcheck.
Krawcheck joined Citigroup in 2002.