Term Sheet — Friday, March 1528

A number of high-profile executives and investors are leaving their respective positions and shaking up both Wall Street and Silicon Valley. Below is a synopsis of all the departures that were announced yesterday:

Bill McGlashan is leaving TPG: Bill McGlashan is officially leaving TPG where he was the head of its social impact funds after he was implicated in the college admissions cheating scandal. Was he fired or did he resign? Well, it depends on who you ask. TPG says he was fired. In a statement to Term Sheet, the firm said "Bill McGlashan has been terminated for cause from his positions with TPG and Rise effective immediately. After reviewing the allegations of personal misconduct in the criminal complaint, we believe the behavior described to be inexcusable and antithetical to the values of our entire organization." Jim Coulter, who co-heads the firm, is taking over managing partner responsibilities for Rise and TPG Growth, which McGlashan founded in 2007.

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