Steven Rattner Resigns from Credit Suisse After Affair Rumors Swirl

Steven Rattner, a managing editor of Credit Suisse, announced his resignation last week after rumors swirled that he had an affair with a married woman.

Rattner, who also served as the head of Credit Suisse's private equity arm, DLJ Merchant Banking, reportedly had an affair with Kelly Milne, according to comments by the woman's husband.

According to Cosgrove's comments, Rattner was involved in an affair with Milne, an escort whose real last name was Cosgrove, in London. Rattner offered her $500,000 for her to move to New York.

Cosgrove contends that Rattner took his wife to Macao, Hong Kong, the Philippines, France and Monaco, and "showered her with exotic gifts, jewelry and designer clothes."

Cosgrove also said that Rattner offered Milne a Ferrari and other gifts if she would live with him for two years. He compared Rattner and his wife to Richard Gere and Julia Roberts in "Pretty Woman".

Milne returned to Australia and told Cosgrove about the affair, starting the downward spiral to their marriage. Eventually, Rattner cut off the romance, confessed to his wife and began to mend his marriage.

However, last week, Tommii Cosgrove, the husband of Kelly Cosgrove, began his mission to destroy Rattner. Despite the fact that Cosgrove found out about the affair five years ago and he and Kelly have been divorced for over a year, he was determined to destroy Rattner's life over the affair.

Cosgrove began e-mailing Rattner's colleagues and co-workers, in addition to reports, stating that Rattner tried to steal his wife. The rumors and e-mail blasts caused a strain for Rattner at Credit Suisse and he eventually resigned.

Rattner is not to be confused with the Steve Rattner who founded the Quadrangle Group and manages Mayor Michael Bloomberg’s blind trust.

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