UBS âwill rebuildâ after Barrenjoey Bloody Monday
Mar 15, 2021 â 4.21pm
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UBS has pledged to rebuild its research and investment banking team after a âBloody Mondayâ raid on its top analysts and traders by local upstart Barrenjoey which is run by a group of former executives from the Swiss bank.
The Australian Financial Reviewâs Street Talk column revealed yesterday morning that UBS was told of a first wave of resignations, following the landing of deferred cash bonuses.
Among those defecting were top-rated analysts Jon Mott who covers banking and Glyn Lawcock who covers mining, and their junior partners, Dan Morgan and Minh Pham, gaming and transport analyst Matt Ryan, small caps specialist Josh Kannourakis, associate director of research Craig Stafford, and retail and consumer goods analyst Aryan Norozi.
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âThereâs never been a better time to be in investment banking,â declares Aidan Allen, a co-founder at Jarden Australia, one of the countryâs newest and fastest-growing advisory houses, from its boardroom in Sydneyâs Martin Place.
It certainly seems that way. Less than a year after Jarden Australia, headed by UBS capital markets veteran Robbie Vanderzeil, opened its doors, the firm has hired 63 people across equities research, equities sales, corporate advisory and capital markets.
Jarden Australia has been hiring aggressively and has 11 managing directors. Â
Edwina Pickles
Itâs already outgrown its new Martin Place offices and is set to move into more spacious digs in Governor Phillip Tower.
ANZ retained its position as the dominant Antipodean bond house after successfully adapting to an unprecedented year on both sides of the Tasman Sea. “Our priority was to support clients by providing advice, liquidity and issuer access when the market began functioning again, which actually proved quicker than anticipated,” said Paul White, ANZ’s global head of syndication. ANZ challenged for the top of the league table during the awards period, with a 14.1% share of the market. Its 79 trades encompassed a broad range of issuers, including high fee-paying sectors like corporates and financials. ANZ participated in half of the Australian government’s eight syndicated post-shutdown sales in 2020, including September’s record-breaking A$25bn print of six-year Treasury bonds and the curve-extending A$15bn June 2051 issue. The bank was at the forefront of an unusually busy corporate bond arena after Woolworths broke the drought with a A$1bn dual-trancher in May, and chalked up a