(CNN) -- If you thought it was difficult managing your own money in 2007, consider the pressure of the task when you're dealing with $1.8 trillion of client assets.

Sallie Krawcheck has made Fortune's list of the World's Most Powerful Women every year since 2002

That's what Sallie Krawcheck does as Chairman and Chief Executive of Citi Global Wealth Management.

She joined the banking industry as a research analyst, but quickly rose through the ranks, gaining a reputation for honesty and integrity along the way.

Dubbed the "Mrs Clean" of Wall Street, Ms Krawcheck was credited with restoring investors' faith in analyst reports while head of retail brokerage firm Smith Barney.

She joined Citigroup in 2002, and spent some time as Chief Financial Officer before taking up her current role in March 2007.

Sallie Krawcheck has been a regular entrant on Fortune's list of the World's Most Powerful Women in Business -- in 2007, she made number 12.

John Defterios caught up with Ms Krawcheck in Dubai. He asked her for her views on the movement of capital outside the G8 (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States).

Sallie Krawcheck (SK): I think what's happening right now, it's fascinating because in the United States and in developed Europe we're having a liquidity crunch -- someone might argue a liquidity crisis. And in fact, we are awash with liquidity in the Middle East and in Asia as well, so there's really a bifurcation that's occurring in the world.

And if you think about, oil doesn't even have to stay at the 90-plus dollar level it is; even at levels in the 70's, 60's, 50's, 40's, a tremendous amount of liquidity is being generated in these markets which is really being put back into the market. Yes, the investments are going up globally, but the governments here really are investing back in the infrastructure and the economies of this region. And so over time, you're really going to see... I think continue to see... a shift in economic activity on a relative basis from the more developed economies here to the Middle East as well as to Asia.

John Defterios (JD): It's coming almost as a perfect storm; we have a sub prime crisis, a 20 percent fall in the dollar in the last two years. In this window of time, is there a danger that the financial capitals build outside of Wall Street and it undermines its role?

(SK): I think there is no doubt that New York is losing its status as a financial capital of the world. If you think about some years ago, if you think about the internet bubble for example, where it was New York and California wasn't it? And you look at a whole range of reasons for it, and the sub prime crisis perhaps, the decline of the dollar perhaps. But you have overlapping regulators in the United States, you have very high taxes in the United States, you have a very litigious environment in the United States, and you have the emerging markets coming up, so capital is being raised outside of the United States. These things, some of which are negative for the United States, some of which are positive for the other regions, is accelerating a shift that was underway from New York, to London, to Hong Kong, to Singapore, and potentially to Dubai as well.

(JD): Some of the wealth funds are now on the radar of both Wall Street and Capitol Hill in Washington. You can't have your cake and eat it too. You can't say I want some of that liquidity but I only want part of that liquidity. What is the result of that do you think? Can you over-regulate the sovereign funds?

(SK): Oh, I think you can over-regulate the sovereign funds. I think the same question can be asked of the private equity funds and the hedge funds as well; where in a lot of countries
( CNN ) -- If you thought it was difficult managing your own money in 2007 , consider the pressure of the task when you 're dealing with $ 1.8 trillion of client assets . Sallie Krawcheck has made Fortune 's list of the World 's Most Powerful Women every year since 2002 That 's what Sallie Krawcheck does as Chairman and Chief Executive of Citi Global Wealth Management . She joined the banking industry as a research analyst , but quickly rose through the ranks , gaining a reputation for honesty and integrity along the way . Dubbed the " Mrs Clean " of Wall Street , Ms Krawcheck was credited with restoring investors ' faith in analyst reports while head of retail brokerage firm Smith Barney . She joined Citigroup in 2002 , and spent some time as Chief Financial Officer before taking up her current role in March 2007 . Sallie Krawcheck has been a regular entrant on Fortune 's list of the World 's Most Powerful Women in Business -- in 2007 , she made number 12 . John Defterios caught up with Ms Krawcheck in Dubai . He asked her for her views on the movement of capital outside the G8 ( Canada , France , Germany , Italy , Japan , Russia , the United Kingdom and the United States ) . Sallie Krawcheck ( SK ) : I think what 's happening right now , it 's fascinating because in the United States and in developed Europe we 're having a liquidity crunch -- someone might argue a liquidity crisis . And in fact , we are awash with liquidity in the Middle East and in Asia as well , so there 's really a bifurcation that 's occurring in the world . And if you think about , oil does n't even have to stay at the 90-plus dollar level it is ; even at levels in the 70 's , 60 's , 50 's , 40 's , a tremendous amount of liquidity is being generated in these markets which is really being put back into the market . Yes , the investments are going up globally , but the governments here really are investing back in the infrastructure and the economies of this region . And so over time , you 're really going to see ... I think continue to see ... a shift in economic activity on a relative basis from the more developed economies here to the Middle East as well as to Asia . John Defterios ( JD ) : It 's coming almost as a perfect storm ; we have a sub prime crisis , a 20 percent fall in the dollar in the last two years . In this window of time , is there a danger that the financial capitals build outside of Wall Street and it undermines its role ? ( SK ) : I think there is no doubt that New York is losing its status as a financial capital of the world . If you think about some years ago , if you think about the internet bubble for example , where it was New York and California was n't it ? And you look at a whole range of reasons for it , and the sub prime crisis perhaps , the decline of the dollar perhaps . But you have overlapping regulators in the United States , you have very high taxes in the United States , you have a very litigious environment in the United States , and you have the emerging markets coming up , so capital is being raised outside of the United States . These things , some of which are negative for the United States , some of which are positive for the other regions , is accelerating a shift that was underway from New York , to London , to Hong Kong , to Singapore , and potentially to Dubai as well . ( JD ) : Some of the wealth funds are now on the radar of both Wall Street and Capitol Hill in Washington . You ca n't have your cake and eat it too . You ca n't say I want some of that liquidity but I only want part of that liquidity . What is the result of that do you think ? Can you over - regulate the sovereign funds ? ( SK ) : Oh , I think you can over - regulate the sovereign funds . I think the same question can be asked of the private equity funds and the hedge funds as well ; where in a lot of countries
Who is MME speaking with?
Who is MME speaking with ?
Sallie Krawcheck
Sallie Krawcheck