NEW YORK-Salomon Smith Barney analyst Jack Grubman has resigned following widespread criticism of his involvement with the telecommunications industry, including the collapse of WorldCom.
Grubman, who recently testified before Congress in July during the investigation of the WorldCom collapse on his role as an analyst in the industry, was known for his optimistic outlooks and recommendations on telecom companies, even as several teetered near bankruptcy. Grubman’s relationships with the companies he followed, which included his attendance at several board meetings, have also been under scrutiny.
