[3] Although he had never worked in the securities industry, Mr. Breeden was appointed to lead the SEC, where he cut a colourful figure, wearing striped suspenders and driving a red Porsche with the license plate 1RCB1.
He exhibited a penchant for speaking his mind, as when he told his staff that he wanted insider traders left "naked, homeless and without wheels.
For example, Mr. Breeden led the turnaround of WorldCom, Inc., and he has served as the monitor of the accounting firm KPMG in its successful recovery from criminal activities involving abusive tax shelters.
Prior to forming his own firm Mr. Breeden served as chairman of the worldwide financial services practice of Coopers & Lybrand.
How much responsibility he bears for its deteriorating position was the subject of discussion among current and former executives, former board members, analysts and vendors.
Some of these people say Zale has made mistakes trying to please Breeden, who is known for his forceful personality, such as by buying back high-priced shares and by leasing an expensive billboard at Yankee Stadium.
Breeden Partners has affiliated entities registered in the Cayman Islands, to take advantage of generous offshore tax benefits.