![]() ![]() ![]() If for some reason this doesn’t appeal, there are other equally valid rich person hobbies that you can substitute the other key advisor on the deal was Amanda Staveley, who originally made her Gulf State contacts through her connections in the world of horse racing. So, junior bankers should consider buying a set of clubs, apparently particularly if they’re in equity capital markets, according to the author of the “Sell-Side Handbook”. Specifically, it seems, you can find out if their human rights concerns are as serious as they seemed or not. Quite apart from anything, very few clients will agree to spend four hours in a banker’s company in any other context, and as Lemkau says, “you can figure out a lot about a person in four hours on a golf course”. It might have been seen as a bit of a dated cliché, in an age where electronic dance music or mixed martial arts are more on trend for your average MD, but there are plenty of senior bankers like Greg Lemkau who still swear by eighteen holes and an Arnold Palmer in the clubhouse. Yasir Al Rumayyan, the chairman of the Saudi Public Investment Fund is known to be “golf crazy”, he’s President of the Arab Golf Federation and has apparently “spearheaded the development of golf” in a region that had previously been seen as one massive bunker.īasically, bankers still do like their golf. And although there’s no real evidence that the deal was itself put together on a golf course, it’s certainly not unlikely. Joking aside, the deal has come at a great time for Klein, demonstrating that he’s still got what it takes, and importantly that his contacts in Saudi Arabia haven’t suffered too badly from whatever blame exercise took place over the $1.5bn investment that went into Credit Suisse and came back greatly diminished. And it’s hard to say it hasn’t worked out for him – he’s already bounced back as one of the key advisors on the deal to merge the PGA Tour with LIV Golf. ![]() You’ve missed out on the biggest deal of your life, and through no fault of your own you’re out of the job you wanted – what else would a senior advisory banker do, but hit the golf course? That seems to be what Michael Klein did after the failure of Credit Suisse led to the collapse of the $210m deal that would have bought out his boutique firm and put him in charge of the now sadly never-to-be First Boston investment banking franchise. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |