Inside lane: how Barrenjoey cut in on UBS
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Barrenjoey Capital has joined UBS, Macquarie and Morgan Stanley as an adviser for Transurban’s potential buyout of WestConnex in the latest example of the upstart investment bank swooping in on the Swiss bank’s turf.
As well as cutting in on UBS’ mandate with a long-term and lucrative client, the new firm, run by chief executive Brian Benari, has poached its bankers, legal counsel Annette Spencer and, this week, top-rated analysts.
It’s even fighting it out for talent in the schools, launching a cadet program, just like UBS.
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SYDNEY, March 15 (Reuters) - Around 10 UBS Australia staff, including top banking analyst Jonathan Mott and top mining analyst Glyn Lawcock, have resigned from their multi-decade long positions at the Swiss investment bank, two sources with knowledge of the matter said.
Both Mott and Lawcock, have been hired by Barrenjoey Capital Partners, a startup partly owned by Barclays Plc and Magellan Financial Group, according to the Australia Financial Review, which first reported the moves.
Mott, who has worked as a banking analyst for UBS since 2002 according to his LinkedIn website, did not return Reuters messages seeking comment. Lawcock, a UBS veteran of about 20 years and one of only three mining companies analysts rated 5 out of 5 stars on Refinitiv Eikon, declined to comment.
âWe anticipated the raidsâ: How Barrenjoeyâs poaching day unfolded for UBS
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March 15, 2021 â 4.46pm
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From the salubrious Chifley Square executive offices at Australiaâs regularly ranked top investment bank, UBS, the governing executives had been ready for the final push against it.
More than a year ago, when the industry got wind of a new investment banking house formed by former UBS executives, the Swiss-owned investment bank knew it would be under attack.
The new but extremely well connected financial services upstart Barrenjoey Capitalâs plan was to pick the eyes out of UBSâs valuable pool of capital - its talent, its rainmakers and its networkers.
Avant-garde investment bank looks just like the others
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If the firm we ve taken to calling Barrenjoey Public Relations Partners is half as successful at deal-making as it is at generating press coverage, we re sure the nation s most expensive start-up is gonna be a huge hit.
From left, Barrenjoey Capital CEO Brian Benari, chairman Guy Fowler and COO John Cincotta.Â
Louie Douvis
Still, for a firm that s so far put so much emphasis on its meritocratic nature and staff-friendly policies â 18 weeks primary carer leave, five weeks annual leave, all the flexibility you want â do you think it could have done much recruiting from, you know, the half of the population more likely to normalise the use of such policies?
Barrenjoey Raids UBS Australia Unit finews.asia - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finews.asia Daily Mail and Mail on Sunday newspapers.