Ponce
21st April 2010, 01:34 PM
April 22 (Bloomberg) -- Goldman Sachs Group Inc.’s November 2006 announcement of Rajat Kumar Gupta’s election to its board brimmed with the India native’s achievements: worldwide managing director of McKinsey & Co.; special adviser to the Secretary- General of the United Nations on management reform, co-chairman of the American India Foundation charity, whose honorary chair is former President Bill Clinton.
Goldman Sachs Chairman Lloyd Blankfein said at the time: “Our shareholders will be fortunate to have his strategic and operational expertise and judgment.†Now, with his term ending next month, Gupta is leaving the board.
On March 19, without explanation, the firm announced his decision, thanking him for his service. Three days later, prosecutors said they were examining trades in Goldman Sachs shares by Raj Rajaratnam, the central figure in the largest U.S. insider-trading case ever and a onetime Gupta business partner.
http://www.bloomberg.com/apps/news?pid=20601010&sid=a6q14.guA1tA
Goldman Sachs Chairman Lloyd Blankfein said at the time: “Our shareholders will be fortunate to have his strategic and operational expertise and judgment.†Now, with his term ending next month, Gupta is leaving the board.
On March 19, without explanation, the firm announced his decision, thanking him for his service. Three days later, prosecutors said they were examining trades in Goldman Sachs shares by Raj Rajaratnam, the central figure in the largest U.S. insider-trading case ever and a onetime Gupta business partner.
http://www.bloomberg.com/apps/news?pid=20601010&sid=a6q14.guA1tA