Dan Primack

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

WaMu scapegoat gets a second chance

January 28, 2011: 3:13 PM ET

Symphony Technology Group this morning announced that it has hired Marshall Haines as a managing director. It's good to see.

Haines most recently was chief operating officer with Williston Financial Group, but before that spent five years as a principal with TPG Capital -- where he arguably became the scapegoat for the worst private equity deal in history (leading a $7 billion investment in Washington Mutual, less than five months before the lender went under).

Never made too much sense, given that TPG co-founder David Bonderman was a former WaMu board member who rejoined as an observer as part of the doomed investment. Not saying that Haines didn't work on the deal, but he hardly was in a position to be the prime influencer...

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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