The end came quickly for Erin Callan. It was at Thursday's executive committee meeting, the daily 8 a.m. gathering of Lehman Brothers' top executives, that Callan, the firm's chief financial officer, admitted she had lost credibility with the Street and offered to give up the job.
Just like that, Wall Street's most powerful woman fell. Her move came nearly seven months after Zoe Cruz, until then considered the Street's top woman executive, was ousted as co-president of Morgan Stanley (MS), and more than a year after another powerful player, Sallie Krawcheck, stepped down as the CFO of Citigroup (C).
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