House McKinsey Probe Eyes Risk Process Once Led by Fed’s Barkin
- Lawmakers probing McKinsey’s work with OxyContin maker Purdue
- Richmond Fed president was consultancy’s chief risk officer
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A congressional investigation into global consultancy McKinsey & Co.’s role in advising its client on promoting opioid sales includes a look at “risk-management” processes that were overseen for a time by the current president of the Federal Reserve Bank of Richmond.
Thomas Barkin, who was chief risk officer at McKinsey from 2015 through 2017 before joining the Richmond Fed, has not been a direct focus of the House Committee on Oversight and Reform’s investigation. But an interim report released April 13 shows lawmakers are delving into the firm’s oversight of its engagement with Purdue Pharma LP, makers of the painkiller OxyContin.