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Why Sallie Krawcheck Gives the Banking Sector a 'C' on Diversity

Video Credit: The Street - Duration: 01:16s - Published < > Embed
Why Sallie Krawcheck Gives the Banking Sector a 'C' on Diversity

Why Sallie Krawcheck Gives the Banking Sector a 'C' on Diversity

After the financial sector reported earnings, Real Money's Kevin Curran gave the big banks a report card based on their earnings.

Ellevest CEO Sallie Krawcheck sat down with TheStreet to discuss her report card for the financial sector.

Before starting her own company, Krawcheck was the CFO at Citibank .

When asked what grade Krawcheck would give big banks when it came to diversity, Krawcheck responded, "A C." "Because they haven't made much progress since the financial crisis," she explained.

"So we tend to think of diversity's a good thing to do, so there will be forward movement and motion.

But in fact, it can go backwards too.

I don't give them an F because they talk about it, and they have a bunch of programs for it," explained Krawcheck.

"And some of them I really do believe are meaning.

What I've thought about them is that some of them talk about it as being a pipeline issue.

It hasn't been a pipeline issue since the 1980's.

It's been a promotion issue." Watch the full interview here.

Follow us on Twitter @TheStreet; TheStreet: Investing Strategies on Youtube or check out our podcasts on SoundCloud at TheStreetLive.

Citigroup is a holding in Jim Cramer's Action Alerts PLUS member club.

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