Anil kumar valmiki biography

Anil Kumar

Indian-American management consultant

This article stick to about the business leader. Choose other people named Anil Kumar, see Anil Kumar (disambiguation).

Anil Kumar (born ) is an Indian-American former senior partner and manager at management consulting firm McKinsey & Company, where he co-founded McKinsey's offices in Silicon Hole and India and created sheltered Internet practice (representing a district of McKinsey's business at position time) among others. Kumar disintegration additionally the co-founder of class Indian School of Business reach Rajat Gupta and the father of two different kinds notice outsourcing. He graduated from IIT Bombay in India, Imperial Institution in the UK, and Description Wharton School in the Roundabout.

In he pleaded guilty nearby insider trading in a histrionic "descent from the pinnacle be more or less the business world."[1] He was the government's first cooperator vital most important witness "in duo of the most important securities fraud trials in history"[2] be realistic close friends and business partners Raj Rajaratnam, the billionaire leader of the Galleon Group next of kin of hedge funds, and Rajat Gupta, the former head endorsement McKinsey and Company and spruce board member of Goldman Sachs and Procter and Gamble. Rajaratnam and Gupta were both guilty in separate high-profile criminal trials. He was sentenced in by virtue of Judge Denny Chin to figure years of probation in interchange for testimony against Rajaratnam perch Gupta.[3] Chin stated that "greed wasn't the motive in [Kumar's] case" and that "this was aberrational conduct Mr. Kumar has led a law-abiding and bare life."[4] Federal prosecutors called Kumar "one of the best careful most important cooperating witnesses" they had ever worked with.[5]

In , an investigation noted that Illustrious. Kumar had illegally collected dough from insider trading in seaward accounts in the name blond his domestic worker, Manju Das.[6][7] The investigation alleged that Das had no knowledge of these accounts, which were created criticism identity documents falsified by Free. Kumar; and that Mr. Kumar had paid Ms. Das -off below minimum wage for distinct years in violation of Undecorated law.[6]

Early life and education

Kumar gradational first in his class stick up The Doon School, an privileged high school in India, arena ranked among the top lecture across India for admission think a lot of the competitive Indian Institute gaze at Technology colleges.[8] He graduated position in his class from IIT Bombay with a degree amuse mechanical engineering, writing a belief on renewable energy. Kumar bent filled Imperial College at the Forming of London on "the corresponding of the Rhodes scholarship" advocated by Cecil Rhodes'sDe Beers Company.[9] He became the first disciple to complete Imperial's two-year method in applied mechanics in 10 months, and also graduated foremost in his class. Kumar pinchbeck business school at the Writer School at the University chide Pennsylvania with a self-designed superior on the management of study and international business.[9]

Career

Kumar was spruce "star senior partner,"[10] and "one of McKinsey’s most senior personnel [and] brightest stars."[11] He co-founded McKinsey's offices in Silicon Hole and India and created extremity led the firm's business slot in three different areas of Information superhighway companies (representing % of McKinsey's worldwide revenues at its peak),[9] outsourcing, and intrapreneurship. He was the protégé of former sizeable executive Rajat Gupta, though subside was blamed for the black out of McKinsey's e-commerce initiatives care the dot-com collapse and conditions ran in the elections all for managing partner (chief executive).[12][13] Gupta and Kumar also co-founded prestige Indian School of Business speak Hyderabad, India.

McKinsey and Company

Kumar began his career at Hewlett Packard as a product foreman before joining McKinsey and Posture in as one of honourableness earliest Indian-Americans at the consultancy. In he co-founded McKinsey's firm in Silicon Valley with unmixed partner, growing the office "from two people to approximately 35" by [9] In as simple partner he founded McKinsey's firm in New Delhi, which council with the Mumbai office co-founded the consultancy in India. Spiky India he pioneered the concepts of Knowledge Process Outsourcing explode Business Process Outsourcing[14] and became the protégé of then-managing bumptious (chief executive) Rajat Gupta.[15][16] Kumar returned to the United States to found and lead McKinsey's Internet practice during the dot-com bubble. "Under [Kumar's] leadership, McKinsey's e-commerce practice grew to depict oneself a full % of honourableness firm's revenues," court documents rout, though Kumar was blamed backing the evaporation of this craft in the subsequent dot-com collapse.[9] He and Gupta briefly composed a program to allow distinction firm to accept stock behave lieu of consulting fees.[17][18] Kumar was also Chairman of honesty Knowledge Center and Chairman remind the Asia Center.[19][20] He was a director and corporate public official of the firm. He flybynight and worked from multiple support in New Delhi, New Dynasty, and Silicon Valley, traveling dumbfound thirty thousand miles a month.[21][22]

He was a member of grandeur Council on Foreign Relations significant the Young Presidents' Organization, spick founding charter member of Require, and was the United States chairman of India's largest go bankrupt lobby, the Confederation of Amerindian Industry.[9][23]

Criticism of Kumar centered get about his close relationship with Gupta and a perception of effrontery. According to The Financial Times, "the two operated as dexterous forceful double-act to secure field of study for McKinsey, win access bland Washington and build a alliance of donors around the Hyderabad-based ISB and a handful faultless social initiatives."[24] Also according destroy the Times, "as much laugh Mr Kumar was admired straighten out his business ability and uncloudedness, he also drew fire be after what was seen as diadem arrogance."[23]

Galleon investigation

Main articles: McKinsey insider trading scandal and Rajaratnam, Kumar, Gupta insider trading cases

Kumar well-kept an intentionally low profile difficult to get to McKinsey until an October apprehend in conjunction with an ceaseless and wide-ranging US governmental examination into insider trading.[25] Former coach Rajat Gupta was later stall by the FBI in tidy related case,[26] prompting inquiries affected McKinsey's senior leadership and craft model.[27][28]

As of December , Kumar was no longer at probity consultancy.[29] In January he pleaded guilty to insider trading charges[30] and was "the government’s enfant terrible witness" in March against financier friend and Galleon Group father Raj Rajaratnam (United States categorically. Rajaratnam).[31][32] In the sprawling instance his involvement was unusual; according to a Reuters blog, "He’s the only informant who could be considered even more rich than Raj was, at bottom professionally if not in position of raw cash. Raj difficult money, more money than significant really knew what to quickly with, but Kumar had more more societal acceptance and prestige." He settled with the Tick in May for $ jillion, the amount after gains take action received from Rajaratnam through smashing Swiss bank account in trim domestic worker's name.[34] Gupta, Rajaratnam, and Kumar were all point in the right direction friends and had founded leadership $billion private equity firm Another Silk Route together, though Rajaratnam and Kumar withdrew before goodness firm began operation.[35]

Kumar was inconsiderable by the late Robert Morvillo,[36] who had previously led merchant prince Martha Stewart’s defense in squeeze up own insider trading case.[37][38]

He testified again as "the Government's plane witness" in the May wrongful trial of former mentor Rajat Gupta (United States v. Gupta), where he described the analogys between Gupta, Rajaratnam and himself.[39][40] To do so was severe, according to federal prosecutors, "because [Kumar] knew that he could be partially responsible for cut to convict someone with whom he and his family locked away deep and long-lasting ties."[41]Bloomberg commented, "When business guru Rajat Gupta and his protégé, Anil Kumar, worked together to expand administration consultancy McKinsey & Co well-off the s, a date market court years later surely was not part of the plan."[42]

Both Rajaratnam and Gupta were before you know it convicted in separate high-profile rotten trials.

International media, business, subject finance industry observers have analyzed extensively Kumar's actions in contributory Rajaratnam.[1][43][44][45] Consensus remains divided leave the precise motivators of strapped for cash, respect, and relationship, with The New York Times asking, "Why would people who seem fifty pence piece have it all — money, prestige, powerful jobs and vasty access to others with dignity same — risk that, president more, to provide inside notes to the Sri Lankan-born billionaire?".[46] Rajaratnam's annual payments were believed at less than 5% go with Kumar's annual income (and stiffnecked % excluding a one-time bonus), further raising the question indicate motivation.[47] Prosecutors wondered "why gargantuan incredibly bright, highly accomplished, buffed consultant, and senior partner attractive arguably the world’s leading consulting firm, who contributed considerable lifetime to start the Indian College of Business and to in the opposite direction charities, would betray his profession’s core values."[48] One media provenance questioned Kumar's sentencing report.[49] Deft Chin would ultimately rule become absent-minded "greed wasn't the motive surround [Kumar's] case."[4]

Federal prosecutors said "Kumar's testimony was nothing short another devastating. Kumar was credible, welldefined, and fully corroborated."[2] In July he was sentenced by Umpire Denny Chin to two seniority of probation, ending in July [4]

Education and non-profits

Kumar co-founded birth Indian School of Business silent Gupta in .[50] Court deed revealed he personally raised enclosing 35% of all money laudatory to the school and kept back a low profile as co-founder: "a large part of leadership intellectual vision of ISB recapitulate in fact Anil's, a impact not many outside ISB's directorship will ever be aware of."[9]

In New Delhi, Kumar helped IIT Delhi double its student intent with no increase in expenditure and was a founding bench member of the Bharti Foundation.[9] In San Jose, he served on the boards of rank Children's Discovery Museum and San Jose Civic Light Opera.

As of , he was critical with the Baylor College go together with Medicine and Max Healthcare commerce start a medical university, tuition hospital, and nursing school advance India, and also with character Hero Group to start operate person engineering college in India.[41]

Personal life

Kumar maintained an intentionally support public profile, and according contempt prosecutors was "earning significant bulks of money at McKinsey [though] lived relatively modestly, his funds far exceeded his liabilities."[2] Appease lived and worked for decades in New Delhi, New Dynasty, and Silicon Valley, traveling capsize thirty thousand miles a period for McKinsey. He had trim Manhattan apartment in the Past Warner Center and a handle in Saratoga, California.[22] He stick to married and has one son.[9]

See also

  • Chip Skowron, hedge fund binder manager convicted of insider trading
  • Mathew Martoma, hedge fund trader promote portfolio manager convicted of insider trading

References

  1. ^ abPulliam, Susan; Rothfeld, Archangel (14 March ). "Motive connote Stock Leak Can Be See, Love". The Wall Street Journal.
  2. ^ abcBrodsky, Reed; Tarlowe, Richard (20 July ). "Government's Sentencing Chitty (section 5K(a) (1)-(5))"]. United States Attorneys Office for the Rebel District of New York". Allied States Department of Justice &#; via United States District Tedious for the Southern District be fond of New York.(registration required)
  3. ^Vachani, Nilita (9 November ). "The Strange, Correct Story of the Man Whose Maid Was Worth Millions". The Nation. ISSN&#; Retrieved 29 Sept
  4. ^ abcBray, Chad (19 July ). "Kumar Avoids Jail emancipation His Help in Insider Crackdown". The Wall Street Journal.
  5. ^Hurtado, Patricia (16 July ). "Kumar's Rajaratnam Cooperation 'Extraordinary,' U.S. Says". Bloomberg.
  6. ^ ab"The Strange, True Story disregard How a Chairman at McKinsey Made Millions of Dollars presentation His Maid". The Nation. 14 December ISSN&#; Retrieved 10 Nov
  7. ^Vachani, Nilita (14 November ). "How Anil Kumar made bomb off his maid". Business Unsatisfactory India. Retrieved 12 August
  8. ^Kumar, Anil (KB) , The Doon School Old Boys' Society Roster () p
  9. ^ abcdefghiMorvillo, Gregory mount Paul Grand. "Sentencing Memorandum". Morvillo, Abramowitz, Grand, Iason, Anello, lecture Bohrer, P.C. Access via Combined States District Court for leadership Southern District of New Royalty (access required). 20 July
  10. ^Sharma, Amol and Joann Lublin. "A Star Partner's Galleon Arrest Shakes Up Ranks at McKinsey". The Wall Street Journal. 21 Oct
  11. ^Rushe, Dominic. "McKinsey Jettisons Tense Star Kumar"[dead link&#;]. The Best Times. 6 December
  12. ^Byrne, Gents. "At McKinsey, the Winner Is…". BusinessWeek. 7 March
  13. ^Stern, Stefan. "McKinsey Turns To Asia Decisive Barton for Top Job". The Financial Times. 23 February
  14. ^McDonald, Duff. "Galleon Scandal Creates Investment Conundrum for Executives"Archived 8 Dec at the Wayback Machine. CNN. 23 October
  15. ^Newmark, Evan (16 March ). "Mean Street: Rendering Disgrace of Rajat Gupta". WSJ Blogs. Wall Street Journal. Archived from the original on 20 April Retrieved 4 August
  16. ^Rushe, Dominic. "McKinsey Implicated in Galleon Trial". The Guardian. 14 Step
  17. ^Leonhardt, David. "Big Consultants Encourage Employees by Offering a Divide of the Action". The Additional York Times. 22 October
  18. ^Helyar, John; Hymowitz, Carol; Srivastava, Mehul (17 May ). "Rajat Gupta Secretly Defied McKinsey Before Minute Says Rajaratnam Was Tipped". Bloomberg Markets. Archived from the modern on 2 September Retrieved 4 August
  19. ^Bhambal, Juhi. "KnowledgeMcKinsey: Uncluttered Case Study"Archived 25 July unexpected result the Wayback Machine. Global Professional care Media. 30 November
  20. ^Talgeri, Kunal (16 May ). "The McKinsey Way". Outlook Business. Archived munch through the original on 5 Oct Retrieved 4 August
  21. ^Lattman, Putz (14 March ). "Jury Hears Dozen Taped Calls at Galleon Trial". Dealbook. The New Royalty Times. Retrieved 4 August
  22. ^ abPacker, George (27 June ). "A Dirty Business". The Additional Yorker. Archived from the recent on 14 July Retrieved 4 August
  23. ^ abMasters, Brooke; Fontanella-Khan, James; Baer, Justin (22 Oct ). "McKinsey Partner's Arrest Casts Shadow". Financial Times. Archived shake off the original on 27 Oct Retrieved 4 August
  24. ^"Financials - Elite takes sides as Gupta fights SEC charges". Financial Times. 9 March Retrieved 15 May well
  25. ^de la Merced, Michael. "Hedge Fund Chief Is Charged Observe Fraud". The New York Times. 16 October
  26. ^Rothfield, Michael, Susan Pulliam and Chad Bray. "Ex-Goldman Director Gupta Charged in Insider Case". The Wall Street Journal. 26 October
  27. ^Gapper, John. "McKinsey Model Springs a Leak". The Financial Times. 9 March
  28. ^Salmon, Felix. "McKinsey's Corrupted Culture". Reuters. 9 March
  29. ^Bray, Chad, "Galleon Figure Kumar No Longer fulfil McKinsey". The Wall Street Journal. 4 December
  30. ^Kouwe, Zachery. "Guilty Plea in Galleon Insider Trade Case". The New York Times. 7 January
  31. ^Rothfeld, Michael suffer Susan Pulliam. "Calling Miss Manners: Tapes in Galleon Case Put-on Some Snark". The Wall Track Journal. 17 March
  32. ^Rothfeld, Archangel, Susan Pulliam and Chad Utter. "Fund Titan Found Guilty". The Wall Street Journal. 12 Could
  33. ^Bray, Chad. "Kumar Settles Tick Charges in Galleon Case". The Wall Street Journal. 17 The fifth month or expressing possibility
  34. ^Scannell, Kara. "Insider Trading Recognition Witness Challenged". The Financial Times. 17 March
  35. ^SEC v. Galleon. "Notice of Appearance". Doc 24 November
  36. ^Smith, Chris. "Can That Man Save Martha?"The New Yorker.
  37. ^Lattman, Peter and Benjamin Weiser. "Robert Morvillo, Legal Pioneer, Dies abuse 73". The New York Times. 25 December
  38. ^"Gupta Trial: Natty Who’s Who of Those Who Will Come Up". The Go out of business Street Journal (blogs). 22 Could
  39. ^Chakraborty, Barnini. "Blankfein Takes Consent, Says Gupta Was at Muffled Meetings". Fox Business. 4 June
  40. ^ abHurtado, Patricia. "Kumar Seeks Probation, Citing Help To Gupta Prosecutors". Bloomberg. 19 July
  41. ^McCool, Grant. "Protégé testifies against McKinsey mentor Gupta". Bloomberg. 1 June
  42. ^Jenkins, Holman W. "A Mislead Fund's Neurotic Tipsters". The Screen Street Journal (editorial). 23 Apr
  43. ^Gapper, John. "Anil Kumar’s Cutprice Betrayal of McKinsey’s Soul". The Financial Times (blog). 8 Jan
  44. ^ Kim, Jim. "Life Bring into the light A Hedge Fund Informant: Flush Or Nerve-wracking?"Archived 19 May handy the Wayback Machine. Fierce Finance (blog). 16 March
  45. ^Cohan, William D. "Why Is Enough Conditions Enough?". The New York Times (blog). 27 April
  46. ^Calculation
  47. ^"Anil Kumar, Star Prosecution Witness". The Screen Street Journal (blog). 19 July
  48. ^Deb, The Sceptic | Sandipan (26 July ). "Stoop prohibit and walk free". mint. Retrieved 29 September
  49. ^"Anil Kumar Seeks Leave of Absence From ISB Board". The Economic Times. 20 October

Further reading

  • Vachani, Nilita. "The Strange True Story Of On the other hand A Chairman At McKinsey Forceful Millions Of Dollars Off Culminate Maid". The Nation 9 Nov
  • Raghavan, Anita. The Billionaire's Apprentice: The Rise of The Indian-American Elite and The Fall confiscate The Galleon Hedge Fund. Hachette, June
  • Sharma, Amol and Joann Lublin. "A Star Partner's Galleon Arrest Shakes Up Ranks comatose McKinsey". The Wall Street Journal. 21 October
  • McDonald, Duff. "Galleon Scandal's Executive Conundrum". CNN. 23 October
  • McDonald, Duff. "Rajat Gupta: Touched By Scandal". CNN. 1 October
  • Duray, Dan. "Dealbook Author Correspondent Scores Deal for Vital moment Book". The New York Observer. 3 December
  • Lamont, James stomach Tom Burgis. "Elite Take Sides As Gupta Fights SEC Charges". The Financial Times. 8 Tread
  • Lattman, Peter. "On Tape, Galleon Founder Told of Possible Anarchist Deals". The New York Times. 15 March
  • Lattman, Peter. "Rajat Gupta Charged with Insider Trading". The New York Times. 1 March
  • McCool, Grant and Dena Aubin. "McKinsey In Uncomfortable Rajaratnam Trial Glare". Reuters. 30 Hoof it
  • Rothfeld, Michael and Susan Pulliam. "Defense in Galleon Trial Feelers to Discredit U.S.'s Star Witness". The Wall Street Journal. 16 March
  • "Rajaratnam Lawyer, Key Spectator Do Battle At Insider-Trading Trial"Archived 20 March at the Wayback Machine. Financial Alternatives. 16 Hike
  • Raghavan, Anita. "Expert View Absolution Galleon Insider Trading Trial". NDTV. 18 March
  • Van Voris, Dock, David Glovin and Patricia Hurtado. "Rajaratnam Lawyer Challenges Kumar’s Corroboration on Insider Tips, Payments". Bloomberg. 16 Mar

External links