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.