Sallie Krawcheck Buys Women's Networking Group 85 Broads

We've been huge fans of 85 Broads since it was first founded by former Goldman Sachs executive Janet Hanson in 1997. In its 16 years, the group has served as a network — one of the first of its kind — for entrepreneurial, trailblazing women who join to connect with other female businesswomen in more than 130 countries.

This morning, it was announced that former head of global wealth management at Merrill Lynch Sallie Krawcheck just purchased 85 Broads from Hanson, its original founder. In a release, Krawcheck discussed her plans to expand the role of the group, transitioning from the mere advocacy of women in business to investment in women in those business industries.

"Research shows that it is good business to invest in women," Krawcheck said. "I look forward to working with 85 Broads' members to expand our mission of empowering women around the world — as women invest in themselves and each other through the network."

Krawcheck additionally wrote about her career update on her LinkedIn page, furthering this discussion of women in business. "For most of my career, I tried to avoid the topic of being a woman in business, vaguely concerned that talking too much about it would hold me back in some way. But I've been thinking about it over the past year…..a lot. I am becoming involved with and investing in 85 Broads because investing in women is smart business. And women investing in themselves and in others, as they do through the network, is even smarter business."

We couldn't agree more. We at MC are all in favor of 85 Broads' mission, and look forward to seeing how Krawcheck will develop the group, and in turn, developing the business of women. All for Team Sallie!