This is how you hit the undo button on a nuclear detonation. If this wasn't buried in FT Magazine, I'd be tempted to cancel my subscription. It's so obviously part of the damage control campaign that it brings the integrity of FT's journalists into question. Extracts:

"... links between key former employees of the world’s best-known, most prestigious, most self-consciously high-minded consulting firm and a corrupt hedge fund boss..."

"...it was a public embarrassment, a private outrage – and even a potential threat to the future of “the Firm”, as McKinseyites call their employer."

"... the older partners were “completely ashen-faced”..."

"The partners’ principal anxiety was summed up in one recurring question: “Why didn’t we pick up on it?”"

"As shocking to them was the fact that they had not previously been made aware of any such activities."

"insiders offered two analogies to help him understand the Firm: the Jesuits, and the tailors of Savile Row, who “unlike fashion houses and designers … are always in the background”."

"Yet McKinsey is arguably better known than either the Catholic religious order or the London suit makers. Founded in 1926 by James O. McKinsey, who originally styled its consultants as “management engineers”, McKinsey is to consulting what Goldman Sachs is to banking: it supplies the most prestigious – and perhaps the most expensive – advice that top corporate and government clients can buy."

...and on and on including a lovely historical photo of founder James O. McKinsey.