On a sunny Friday afternoon in June 2003, Rajat Gupta was greeted at his waterfront home in Westport, Connecticut, by scores of his McKinsey & Co. partners. They had come from London, Frankfurt, New Delhi and other cities around the world -- and brought along an elephant, which they tethered on the front lawn.
When the U.S. Securities and Exchange Commission sued Rajat K. Gupta for insider trading yesterday, it wasn’t simply accusing “a Westport, Conn.-based business consultant” of providing illegal tips to the billionaire hedge-fund manager Raj Rajaratnam .
Wells Fargo & Co. plans to withdraw the capital from its affiliated hedge-fund firm, Overland Advisors LLC, as the asset manager seeks new investors, two people with direct knowledge of the matter said.
JPMorgan Chase & Co. Chief Investment Officer Ina R. Drew, head of the unit responsible for a $2 billion trading loss, built a 30-year career at the largest U.S. bank by embracing risk and avoiding the spotlight.
Meg Whitman, who built her career at companies that sell shoes, toys and Beanie Babies to consumers, may be ill-prepared to lead computer maker Hewlett- Packard Co. as it seeks to cater more to large corporations.
Warren Buffett , the billionaire chief executive officer of Berkshire Hathaway Inc. , said he rates businesses on their ability to raise prices and sometimes doesn’t even consider the people in charge.