Excerpt from NY Times article: At McKinsey, Mr. Barton has been trying to prevent another disgrace: a “third man,” as some have put it. McKinsey is known for what it calls its culture based on values and trust — a culture that was created and nurtured by Marvin Bower, its longtime managing director. The values that Mr. Bower instilled included putting the clients’ interests above the firm’s, providing independent advice and keeping confidences. These ideas were imparted from one generation to the next, mentor to apprentice. But after Mr. Kumar’s arrest in late 2009, Mr. Barton, who had been elected to head the firm just months earlier, decided that the honor-driven, values-based system was not enough. What the firm needed was some rules.
“We needed more safety moats around the castle,” he says. “We have this values/trust culture. I get that. Now we have a little more edge.”
Mr. Barton’s rule making has not gone over well with everyone in the firm; he has been criticized as imposing American standards that don’t work globally and accused of operating a “nanny state.” Nonetheless, he has gained the support of most of the firm and, just as important, of the powerful network of alumni, many of whom now populate the Fortune 1,000 companies that McKinsey serves……