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The Politics of Promotion: How High-Achieving Women Get Ahead and Stay Ahead by Bonnie Marcus

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1Politics in the WorkplaceHow It Works and How Women Fit into It

Sallie Krawcheck, once named the most powerful woman on Wall Street, said it felt like she was fired when a restructuring at Bank of America eliminated her role in 2011. She was asked to join the bank to turn around its Merrill Lynch and U.S. Trust wealth management businesses. What seemed like a perfect role for her turned out to be a blindside. Bank of America was a mixture of several cultures due to acquisitions and leadership changes. Though Sallie attempted to navigate and understand the ever-changing political landscape, she was considered an outsider with few ties to any of the powerful cliques within the bank.

Sallie, based in New York, found it challenging to build relationships ...

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