As Raj Rajaratnam’s Galleon Group is facing defections left and right, his arrest in an insider-trading scandal continues to take down more people. The Journal today profiles Anil Kumar, a McKinsey & Co. star partner who stands charged with securities fraud and conspiracy for improperly giving Rajatnaram’s hedge fund valuable information about some of McKinsey’s tech clients. Kumar’s lawyers have denied any wrongdoing on his part, but any way you slice it, this is bad PR for McKinsey. “This case is unprecedented in our history,” McKinsey spokesman Michael Stewart told the Journal.
“We have never had a case of a partner or anyone else in the firm being charged with criminal activity, if the allegations are true.”
If we were McKinsey, we would release this pop single, about the McKinsey Knowledge Center in India that Kumar founded, to mitigate the PR damage. “There is a dream, a dream that’s ours,” go the lyrics. “We want to be the best R and I in the world.”* Look, we’re smiling already.
McKinsey Star Snared in Galleon Trading Case [WSJ]
Must Everyone Associated With The Galleon Case Have His/Her Own Cringworthy Rap To Speak Of? [DealBreaker]
*To be honest, we actually have no idea what the singer is saying. R and I? Consultants, want to help us out in the comments? Maybe with the next line about “Excalibur,” too.
