There is a profile piece in The Australian today, on two of Australia’s most successful investment bankers, Robbie Vanderzeil and Guy Fowler, who are known for their risky block trades.
There’s an interesting nugget in the story, which is by Damon Kitney, about the time Vanderzeil caught a cab with UBS Asia -Pacific boss Matthew Grounds to sign a huge deal.
The two were on the way to finalise an underwriting agreement with Royal Dutch Shell a few years back for a block trade of Woodside Petroleum shares worth more than $3 billion.
And they didn’t have enough cash for the cab. From the piece:
“I said to Matthew, ‘Have you got any money?’ And he said, ‘No, have you?’ And we managed to scrounge $5 together and told the cabbie, ‘Take us as far as $5 will go!’ That struck me as rather odd: when you are about to do a deal for $3bn and we couldn’t even scrounge together a cab fare!”
There is more here.
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