In addition to Galleon Group, one firm whose name has popped up a whole bunch as it relates to the Feds’ Insider Trading Fest(ivus) is McKinsey. Until they resigned, the consulting firm employed two partners, Rajat Gupta and Anil Kumar, who have both been accused to sharing material non-public information about various companies with their buddy Raj Rajaratnam (Kumar pleaded guilty last year and has been cooperating with the government, while Gupta, who was called out by the SEC in February, has vowed to fight thing thing to the death). Know who doesn’t have any senior executives on staff who may or may not have traded hot tips for money? Bain Chairwoman Orit Gadiesh can think of one.
Gadiesh, chairman of Bain, said her company had not received a single question from the firm’s clients following the scandal, nor did she see the need to do anything differently. She said Bain has had a strong culture of risk management for the past thirty years, including compulsory training, spot checks, weekly reminders and restrictions about the types of investments its employees can make.
“When I became chairman, just for myself, I said I would never trade in stock directly anywhere in the world because I don’t know where in the world we might be working,” she told the Financial Times.
Just thought you’d like to know.
[FT]
That article needs revision.
Yep, the obvious error was fixed.
Sorry Bess, really enjoy your work. Happy Friday.
In other news, Bloomberg just reported that a senior Bain executive has been arrested for insider trading.
That’s nothing. We do monthly STD checks for our IR girls.
exactly, she’s gonna get bit in the ass
Leave her love life out of this.
Well I know of someone at Bain whom she happened to co-auther a book with that
A) Had been cheating on his wife while she was prgnant with their 1st 2 children
B) Told me a few years ago about some hot stock tips he was going to play
C) Is a Director at Bain
So She obviously doesn’t know whats going on around her or know the people that are close to her that well
Where'd the comments go? Why would they go away? hmmmmmmmm?
Where's the other 8 comments? This is pretty fishy.How can Orit catagorically make a statemnet on behalf of the integrity of all of the other people at Bain? She has no clue what they are doing while she is running the company. I'll bet if 5 Bain partners were investigated there would be some dirt found on at least 1 or 2 of them if not more, just saying…