As many of you know, the Chartered Financial Analyst Institute is a group that takes itself extremely seriously. While MBA programs may be content to have any old degenerate representing them, Team CFA holds its members and would-be members to a much higher standard. The organization has zero qualms about throwing one of its own out on his or her ass, and in the past has stripped charterholders of their designations or “publicly censure[d]” them (via CFA Institute Magazine), and rained down fury on people in the midst of attempting to earn their charter, for infractions that include:

So it probably shouldn’t have come as much of a surprise that this had to happen:

CFA Institute, the nonprofit organization that confers one of the most highly regarded credentials for financial professionals, replaced its chief executive last week after its board learned of a relationship between the executive and a senior staff member, said people familiar with the matter. In March, the group said John Rogers, its CEO for five years, would step down in August, without citing reasons. Last week, it told members in an email that Mr. Rogers had come forward after the announcement of his resignation with a “personal matter that represented a potential conflict of interest.”

Mr. Rogers left the organization June 3, Charles Yang, the institute’s chairman, said in an interview. Mr. Rogers’s departure followed an investigation by board members into his relationship with the senior staff member, said the people with knowledge of the situation…While the organization’s code of conduct doesn’t prohibit relationships between staff, a concern on the board was that potential conflicts from the relationship could open CFA Institute to litigation or public criticism, people familiar with the situation said…The leadership change is a sensitive topic within the institute, which on its website defines its mission as “promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society.”

CFA Institute Chief Departs After Disclosing Relationship [WSJ]

1. “On 23 March 2010, a Hearing Panel found that Dirk Laschanzky (USA), a charterholder member, made misrepresentations to CFA Institute on his expense reimbursement vouchers. First, he claimed miles driven from his home to Charlottesville, Virginia, for examination grading when, in fact, he flew by private airplane. Second, he claimed tolls, although only airport parking charges were paid. Third, he claimed, in violation of the CFA Institute Rental Vehicle Policy, a rental vehicle for personal use during examination grading.”

19 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (19)

  1. Posted by Guest | June 11, 2014 at 10:15 AM

    So the ethics part is a bit shaky. What's the harm?

  2. Posted by HotKarl | June 11, 2014 at 10:17 AM

    I'd rather pay Boaz Weinstein 2 and 20 to underperform the S&P500 before I paid another $300+ annual fee to the CFA Institute in order for it to pay its CEO $1.4mm to bang bitches at work.

  3. Posted by Guest | June 11, 2014 at 10:19 AM

    Fuck your goddamn CFA letters.

    I made $1.4mm last year to do nothing but receive blumpkins in the CFA Institute bathroom from my secretary.

    – John Rogers, PIMP

  4. Posted by John Rogers, CFA | June 11, 2014 at 10:47 AM

    Clappin' Freaky Ass

  5. Posted by Mavis Bacon | June 11, 2014 at 11:04 AM

    The Yumplings truck is a calling me pa…..the yumplings are a callin……

  6. Posted by Guest | June 11, 2014 at 11:10 AM

    Guess its back to playing with trains and imaginary friends…At least the working with Muppets part wont change.

    -Mr. Rogers

  7. Posted by Turnip Truck | June 11, 2014 at 11:11 AM

    He should've demanded trial by combat.

  8. Posted by Puck It | June 11, 2014 at 11:21 AM

    I'm thankful my company picks up the $300+ annual tab so it ain't my personal cash going to the grossly overpaid CEO to bang bitches at work.

    I mean, seriously, WTF does this guy do that's worth $1.4 mm a year?

  9. Posted by RonJeremy, CFA | June 11, 2014 at 12:07 PM

    He must be hung like a goddamn fucking moose to be paid that sum of money for plowing poo-nanny at work.

  10. Posted by HighFrequencyHater | June 11, 2014 at 12:21 PM

    Honestly it probably happened at the CFA camp, so it really doesn't count.

    -guy that went to camp

  11. Posted by SEC, IRS, et. al. | June 11, 2014 at 12:48 PM

    Stuff like this happens here all the time. No big deal.

  12. Posted by dick4atick | June 11, 2014 at 1:11 PM

    Anybody on the Green Bond call…mute was off and you can hear:"Knock knock….Wait honey, Mommy is going poo poo."

  13. Posted by suSTAINable | June 11, 2014 at 1:24 PM

    Hopefully it was a low-flush toilet

  14. Posted by Quant me maybe... | June 11, 2014 at 1:57 PM

    As an example for all the other CFAs out there he should hold himself to a higher standard.

    >And commit Seppuku.

  15. Posted by Short, But Long | June 11, 2014 at 2:17 PM

    Was that wrong? Should I not have done that?

    I tell you, I gotta plead ignorance on this thing, because if anyone had said anything to me at all when I first started here that that sort of thing is frowned upon…

    You know, cause I've worked in a lot of offices, and I tell you, people do that all the time.

  16. Posted by theShizznitt | June 11, 2014 at 2:55 PM

    I remember the Standards of Professional Conduct having purposefully vague statutes that allowed for some interpretation, like if she was really hot or really needed a good shagging.

  17. Posted by Guest | June 11, 2014 at 4:16 PM

    In fairness, that question could be asked of about 90% of the CFA holders who move money back and forth without generating alpha, and who also make $1.4 mm a year, give or take.

  18. Posted by FuckURogers | June 12, 2014 at 1:18 PM

    this guy is one another douche….and a hypocrite – spent 5 years going around saying we must restore confidence and trust in the financial industry. restore my ass!

    The leadership team he left behind at CFA is just more of the same: total incompetence. I hope they bring someone who does what he says. All these people making millions for doing NOTHING!!. jUST look at this years proxy…

    This is another case of someone doing little for the organization while pocketing 1.4mm each year. No different than Angelo Mozilo of Country Wide.

    too big to jail case….

  19. Posted by guest | June 12, 2014 at 1:45 PM

    CFA? I thought it was TNA