Once referred to by author Andrew Ross Sorkin as the “most powerful woman on Wall Street,” Erin Callan has advised her last hedge fund. With only five months under her belt at Credit Suisse, Callan calls it quits.
According to Bloomberg, Credit Suisse spokesperson Victoria Harmon confirmed the announcement and said the reason for her departure was she needed to take a personal leave of absence. There have been no more details as to why she decided to leave, yet it could be the legal woes she has been having in regards to her former job at Lehman Brothers.
One might recall this power lady’s rise to financial success during her time spent with now-bankrupt Lehman Brothers Holding Inc. In December 2007, the hedge-fund adviser was promoted as chief financial officer for the company and her decision-making ideas launched her to instant attention.
It seemed that Callan was making great strides with the company, which reported a 46% increase during her time there. As quickly as profits rose, the tide turned. And because Lehman Brothers failed to attract acquisitions from Bank of America and Barclay’s, the company was forced to file for bankruptcy. Then, in September, Credit Suisse offered Callan a position advising hedge funds.
Gone are the days of glamorous news interviews and Wall Street standing ovations. Perhaps this leave of absence will rejuvenate Callan and bring her back to the trading floor. If not, well then it’s on to the next “most powerful woman in the Wall Street.”