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Brown trustee at odds with SEC

June 2, 2010

Steven Rattner, a financier, former Obama administration adviser and member of the Brown Corporation, may be banned from Wall Street. The Securities and Exchange Commission has been investigating an alleged kickback scheme involving the New York state pension fund and Rattner’s former company, the Quadrangle Group.  The NYT reports that S.E.C. officials have been pushing to bar Rattner during the investigation.

Rattner, a Brown alum, is a member of Brown’s governing board and briefly chaired its investment committee. Brown has investments with the Quadrangle group, according to a university spokesperson. Quadrangle is one of three trustee-related firms in which the university invests, says this review by The Chronicle of Higher Education.

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