Get yourself canned once or twice so potential employers can tell you’re serious about your work.

The field of candidates to run the Securities and Exchange Commission is shifting as a contender drops out of the race. Mary Miller, a senior Treasury Department official, removed her name from consideration in recent days, according to several people briefed on the matter who were not authorized to discuss the process. While some Washington insiders considered Ms. Miller a top choice, several people close to her said she was “not interested” in the job. With Ms. Miller withdrawing, Sallie L. Krawcheck, a long-time Wall Street executive, has emerged as a potential front-runner. Over the last year, she has become a familiar face in Washington, making the rounds with lawmakers to discuss consumer issues. [...] In 2009, Ms. Krawcheck landed at Bank of America, where she ran the wealth management group. Under her leadership, the unit posted steady results, a point of strength for then-troubled bank. But Ms. Krawcheck was ousted from Bank of America in late 2011 as part of a broader management shake-up.

Since then, Ms. Krawcheck has refined her voice as a consumer advocate. On Twitter, she has drawn a significant following with her conversational style and posts on investment issues. Ms. Krawcheck is on the board of Motif Investing, an online brokerage firm geared to individual investors. She also writes a blog on LinkedIn. One recent dispatch, titled “What I Learned When I Got Fired (The First Time),” offered career guidance from her own rocky periods. “If you haven’t been fired at least once, you’re not trying hard enough,” she wrote. “As the pace of change in business increases, the chances of having a placid career are receding. And if in this period of rapid change, you’re not making some notable mistakes along the way, you’re certainly not taking enough business and career chances.”

As Miller Drops Out, Race for S.E.C. Chief Shifts [Dealbook]

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Comments (11)

  1. Posted by Guest | November 28, 2012 at 11:37 PM

    Maybe I should apply?

    -Alum of Enron/UBS/Sempra……

  2. Posted by msdhrty | November 29, 2012 at 6:58 AM

    MS could be next great place, breeding ground for frenemies

  3. Posted by Beerio | November 29, 2012 at 7:25 AM

    If getting fired qualifies you for stuff I must be the most qualified bastard in the room.

  4. Posted by asdf1234 | November 29, 2012 at 8:48 AM

    I think she's confused about the difference between being fired for making mistakes because you're making changes and being fired for turning companies to S*&%.

  5. Posted by Louis Bacon | November 29, 2012 at 8:53 AM

    starting a linkedin blog and a twitter feed after getting canned from BAML is the NKI

  6. Posted by Shallow Minds | November 29, 2012 at 9:00 AM

    From her "Linked In Blog":

    "Recommendation from banking industry VIPs Volcker and Ludwig on improving bank safety: change accounting rules so that banks can build loan loss reserves further in advance of loan losses. One impact for investors may be of muting of banks' (significant) earnings volatility."

    With insights like that, she definitely deserves the top post at the premier organization overseeing and enforcing the world's most advanced markets.

    Hahahaha "If i'm too simple then y'all dont get the basics" …

  7. Posted by Lowbrow | November 29, 2012 at 9:05 AM

    With a I would let her enforce any rules she wants. She can run her sec all over me <sic> and i will never say beg for deregulation

  8. Posted by Thomas Hobbes | November 29, 2012 at 9:20 AM

    David Komansky (ex ML CEO) told a former colleague of mine. "Everyone get's fired at least once in their career. It's what you do with it that matters." Don't know if DK picked that up from someone else but it's interesting counsel.

  9. Posted by seriously bro | November 29, 2012 at 12:19 PM

    the proof that this agency is useless is the fact that they are hell bent on putting another broad at the helm

  10. Posted by TomA | November 30, 2012 at 8:51 AM

    They are looking for the best person for the job. If you have a problem with that because one of the candidates is a woman, you should probably go and speak to your mother

  11. Posted by Mark Helms | May 7, 2013 at 2:55 AM

    I think everyone should have a fair chance to employment and let our credentials speak for ourselves.