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| From orphan to Goldman Sachs to New |
| Rajat Gupta: From orphan to Goldman Sachs to New York court
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| UNITED STATES OF AMERICA
, 27-October-2011
2:17:46 AM |
| Rajat Gupta, who stands accused of insider trading, was a pillar of New York society, courted by charities, corporations and wealthy individuals seeking ways and means to make even more money.
But just as his friends and influence grew exponentially during a dizzying climb to the top of the cut-throat world of American finance, he has lost many of his illustrious business contacts and associations on the way down.
The Indian-born executive's humble origins made his rise to a prized seat in the boardroom of Goldman Sachs in late 2006 seem particularly remarkable.
While many of his contemporaries relied on family connections, Gupta, now 62, had lost both his parents before he exited his teenage years, and had to plot his own path, relying only on himself and friends to make it in Manhattan.
One such friend of recent years was Raj Rajaratnam, a hedge fund boss about to start an 11-year jail sentence, whom Gupta is accused of providing a pipeline of insider tips that culminated in millions of dollars of illicit trading profits.
The pair's South Asian roots -- Rajaratnam is Sri-Lankan born -- are a striking reminder of the increasingly prominent role of South Asians in US business.
Born in Kolkata, in India's West Bengal to a teacher mother and journalist father, Gupta studied mechanical engineering in New Delhi. The first time he stepped on an airplane was when he flew to the United States to attend the illustrious Harvard Business School where he obtained an MBA.
He then joined McKinsey & Company, widely-considered the world's most influential consulting firm, an accolade for which Gupta can claim much credit.
In one of global business's most competitive disciplines Gupta went all the way to the top, becoming managing director of McKinsey in 1994 and the first person born outside America to hold the top job.
It was a journey that delivered him a lavish lifestyle and properties which are said to include a ranch in Colorado,
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