• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

2

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

3

Current price of oil as of May 15, 2026

1

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

2

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

3

Current price of oil as of May 15, 2026
Finance

LinkedIn Banker Calls Out James Comey On Hillary Clinton Email Double Standard

By
Jen Wieczner
Jen Wieczner
Down Arrow Button Icon
By
Jen Wieczner
Jen Wieczner
Down Arrow Button Icon
July 7, 2016, 1:39 PM ET

Renowned technology dealmaker Frank Quattrone is no stranger to email scandals, particularly those that involve FBI director James Comey. So when Comey declined this week to press charges against Hillary Clinton over her use of private email, Quattrone was quick to cry double standard.

Responding to Comey’s statements that “no reasonable prosecutor” would pursue a case against presidential candidate Clinton, Quattrone retorted on Twitter, “Says the man who once indicted me over a 23-word email that encouraged my team to save subpoenaed documents.”

Quattrone, who these days is riding high in Silicon Valley and on Wall Street after brokering a string of recent M&A deals including the pending $26.2 billion sale of LinkedIn (LNKD) to Microsoft (MSFT) and HomeAway’s acquisition by Expedia (EXPE), was referring to an email he sent more than 15 years ago, in December 2000. The banker is happy to joke about the indictment episode now because it’s a joke at Comey’s expense: The charges against Quattrone, which Comey brought when he was still the U.S. Attorney in Manhattan, were eventually dropped in 2006 after the banker won an appeal overturning his conviction for obstruction of justice.

Today Quattrone is executive chairman of Qatalyst, the boutique investment bank he founded in 2008 and of which he served as CEO until relinquishing that role in January. Qatalyst has recently risen up the ranks of the Wall Street M&A league tables, advising on six deals worth more than $31.6 billion in the first half of this year—more than double the value of the deals it worked on in the same period last year, according to Mergermarket. That makes Qatalyst the No. 15 dealmaker in the U.S. in Mergermarket’s rankings so far this year, edging out storied tech investment banks like Allen & Company. Indeed, LinkedIn would be the third company Qatalyst has advised in a sale to Microsoft this year alone. Qatalyst is also reportedly advising ride-hailing app Lyft, though it’s unclear whether the Uber competitor is exploring a sale or another type of deal. Legendary venture capitalist Marc Andreessen once endorsed Quattrone on Twitter, tweeting that he and Qatalyst’s current CEO George Boutros “are astonishingly good at their jobs.”

But Quattrone wouldn’t have made it this far had the U.S. government successfully prosecuted him for his own email brouhaha—a scandal that a decade ago threatened to ban him from Wall Street.

Like with Clinton, emails were at the heart of Quattrone’s case, though in a different way. It was 2000, in the months after the dot-com bust, and regulators were investigating the forces that contributed to the tech bubble, including the bankers behind some of the most hyped initial public offerings of the boom. At the time, Quattrone led the technology group at the U.S. investment banking arm of Credit Suisse (CS), which was “one of the world’s leading underwriters” of tech IPOs, as described by Comey in legal documents at the time.

The government suspected that Credit Suisse was basically extorting clients, and artificially pumping up the shares of tech companies, by demanding “exorbitant” commissions to get special access to IPO shares. (Neither Quattrone nor Credit Suisse were ever found guilty of that allegation.) As investigators subpoenaed a slew of documents relating to the deals, Quattrone maintains that he encouraged his team to follow standard document protocol. But Comey zeroed in on a certain email which he used as the basis to charge Quattrone with obstruction of justice.

That email, which was actually 22 words according to case documents, followed another banker’s email to the technology group reminding them of the firm’s document retention policy and urging them to “catch up on file cleaning” before going away for the holidays. Quattrone seconded the message, writing, “Having been a key witness in a securities litigation case in south texas (miniscribe) i strongly advise you to follow these procedures.” The original email also noted that file cleaning would have to be suspended in the event of a lawsuit, “since it constitutes the destruction of evidence.” But the preface of the memo indicated that the group was somewhat concerned that a lawsuit might actually be coming: “With the recent tumble in stock prices, and many deals now trading below issue price,” the original email began, the bankers were expecting lawyers to mount “an all out assault on broken tech IPOs.”

Says the man who once indicted me over a 23-word email that encouraged my team to save subpoenaed documents https://t.co/GYRzWDOhk0

— Frank Quattrone (@FrankQuattrone) July 5, 2016

A spokesperson for Quattrone tells Fortune, “Mr. Quattrone’s email endorsed an existing document policy that called for subpoenaed documents to be saved. It’s a matter of public record that before sending it, [Credit Suisse] lawyers never informed him that the subpoenas they had received called for his team’s documents, and never warned him that those documents needed to be preserved.”

Comey tried to read between the lines, alleging that Quattrone willfully destroyed evidence, but ultimately he could not make the charges stick. (The other Quattrone email mentioned in the court documents is even shorter, and chides the sender of the original email for writing in a preliminary draft of the memo, “Today, it’s administrative housekeeping. In January, it could be improper destruction of evidence.” Quattrone rejected that part of the draft, responding with eight words: “You shouldn’t make jokes like that on email!”)

Quattrone’s rebuke of Comey’s lack of action against Clinton drew cheers in conservative circles, who would rather have seen the government go after the Democratic presidential candidate. As for whether Quattrone himself actually opposes Clinton, or simply harbors a grudge against Comey, the answer may be a bit of both. The banker and his firm declined to comment further or answer questions about his politics, though a spokesperson tells Fortune that “Mr. Quattrone’s tweet reflected his personal views and not those of Qatalyst.”

In March, Quattrone described himself on Twitter as “a life long Republican,” though he expressed disappointment in his own party. (Quattrone, born to an Italian immigrant family, proudly publicizes that heritage. Immigration has been a divisive topic among conservatives this election cycle.) So far, he has made only minor contributions to 2016 political campaigns—to candidates on both sides of the aisle—though he has not written checks to either Donald Trump or Clinton. He donated $2,700 to New Jersey Governor Chris Christie’s presidential campaign, and another $2,700 to the congressional campaign of Jimmy Panetta, a California Democrat, according to campaign finance records. In the last presidential election in 2012, he donated $25,000 to Republican hopeful Mitt Romney and $35,800 to Barack Obama.

@SpeakerRyan As a life long Republican it's sad to see the Party earn a well deserved Darwin Award for causing its own death like this

— Frank Quattrone (@FrankQuattrone) March 16, 2016

When Quattrone transitioned from CEO to the executive chairman role at Qatalyst earlier this year, he was celebrating a record 2015 for the bank, and said, “I remain firmly committed to Qatalyst’s long-term success, and look forward to continuing to drive our strategy and advise clients on their most important strategic priorities. Besides the LinkedIn and HomeAway deals, in the last year he has personally advised Jasper on its $1.4 billion acquisition by Cisco (CSCO), Informatica on its $5.3 billion buyout deal by a Canadian pension fund and others, and other deals.

Editor’s note: This article has been updated to clarify the government’s allegations against Quattrone and add a comment from his spokesperson.

About the Author
By Jen Wieczner
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

lirr
EconomyRailroads
Spring Hamptons traffic nightmare as Long Island Rail Road workers go on strike
By Philip Marcelo, Nick Lichtenberg and The Associated PressMay 16, 2026
3 hours ago
delivery
Retailecommerce
Walmart’s upper hand over Amazon in the $1 trillion e-commerce race: 90% of Americans live within 10 miles of a superstore
By Anne D'Innocenzio and The Associated PressMay 16, 2026
3 hours ago
milei
North AmericaInflation
Argentinians wage inflation strike on red meat sending beef consumption to 20-year low
By Clara Preve and The Associated PressMay 16, 2026
3 hours ago
tom
SuccessEntrepreneurs
Top Chef’s Tom Colicchio got a 15x return on a tech company most Americans have never heard of. He thinks his own industry is broken
By Nick LichtenbergMay 16, 2026
6 hours ago
bhaskar
Economydisruption
The prophet of the ‘Wired Belt’ says capitalism is finally eating itself
By Bhaskar ChakravortiMay 16, 2026
7 hours ago
cyborg
Future of WorkProductivity
AI’s cyborg problem: you have to embrace it to really succeed but 90% of people can’t or don’t want to
By Nick LichtenbergMay 16, 2026
8 hours ago

Most Popular

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
Success
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
By Preston ForeMay 13, 2026
3 days ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
4 days ago
Current price of oil as of May 15, 2026
Personal Finance
Current price of oil as of May 15, 2026
By Joseph HostetlerMay 15, 2026
1 day ago
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
Travel & Leisure
Nearly 50,000 Lake Tahoe residents have to find a new power source after their energy source looks to redirect lines to data centers
By Catherina GioinoMay 12, 2026
4 days ago
The airplane fuel shortage is a myth propagated by airlines who want to cancel unprofitable flights, says private jet CEO
Energy
The airplane fuel shortage is a myth propagated by airlines who want to cancel unprofitable flights, says private jet CEO
By Jim EdwardsMay 14, 2026
2 days ago
Debbie Gibson, Geezer Butler of Black Sabbath want you to adopt a beagle rescued from an experimental lab in Wisconsin
North America
Debbie Gibson, Geezer Butler of Black Sabbath want you to adopt a beagle rescued from an experimental lab in Wisconsin
By Scott Bauer and The Associated PressMay 13, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.