Jay Alix, founder of bankruptcy adviser AlixPartners, has concluded a $5 million lobbying campaign in Washington against McKinsey & Company. The campaign, spanning seven years, aimed to compel McKinsey to disclose potential conflicts of interest in its government work. Alix's efforts stemmed from a legal dispute alleging McKinsey's bankruptcy practice violated conflict of interest rules. While the lawsuit was dismissed, Alix achieved his goal of increasing scrutiny on McKinsey's government contracting practices.
Jay Alix, founder of the bankruptcy adviser AlixPartners, has ended a $5mn Washington lobbying campaign against McKinsey, bringing down the curtain on one of the consulting industry’s longest running and most expensive feuds. The businessman spent seven years urging lawmakers to adopt legislation forcing McKinsey to disclose potential conflicts of interest in its government work, a campaign that increased the political heat on the consulting firm.
McKinsey agreed in 2019 to pay $15mn to settle charges from the US justice department that it failed to make complete disclosures in three cases. It has since stopped acting as a bankruptcy adviser. “Jay Alix — the founder, board member and largest shareholder of AlixPartners — spent eight years waging a campaign in the courts, the press and on Capitol Hill to prevent McKinsey from competing with his firm,” said McKinsey.
LOBBYING CONSULTING Mckinsey ALIXPARTNERS CONFLICT OF INTEREST
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bankruptcy adviser Jay Alix ends long lobbying crusade against McKinseyBusinessman spent millions in Washington to force consultancy to reveal potential conflicts of interest
Read more »
Trump Pardons Silk Road Founder Ross UlbrichtFormer President Donald Trump has granted a full and unconditional pardon to Ross Ulbricht, the founder of Silk Road, a dark web marketplace infamous for selling illegal drugs. Ulbricht was sentenced to life in prison in 2015.
Read more »
Who is Ross Ulbricht, founder of drug marketplace Silk Road, now pardoned by Trump?Ross Ulbricht was sentenced to life in prison, without the possibility of parole, in 2015 in connection with his ownership and operation of the hidden website.
Read more »
Trump Pardons Silk Road Founder Ross Ulbricht, Calling Prosecutors 'Scum'Former US President Donald Trump has granted a full pardon to Ross Ulbricht, the founder of the dark web marketplace Silk Road. Ulbricht was convicted in 2015 and sentenced to two life terms for charges including drug trafficking, money laundering, and computer hacking. Trump criticized the prosecutors involved in the case, calling them 'scum' and 'lunatics'. Ulbricht's supporters, including members of the Libertarian Party, had long campaigned for his release.
Read more »
BrewDog Founder James Watt Launches New Reality Show for EntrepreneursBrewDog founder James Watt is launching a new reality show, 'House of Unicorns', where entrepreneurs will compete for a £2 million prize. Watt believes the show will be an improvement over existing business-focused reality shows like Dragons’ Den and The Apprentice, and aims to support startups during a challenging economic climate.
Read more »
Founder of dark web drug marketplace The Silk Road pardoned by Donald TrumpThe Silk Road was one of the first and biggest online drug marketplaces.
Read more »