Glencore employ 70 year-old.
Glencore, the secretive commodities trader on the cusp of a record IPO, may pay a high price for its low profile, as corporate governance fears damage its ability to achieve a top price for its stock.
Half of the respondents in a Reuters survey of 12 prospective investors said worries about how Glencore is managed have lopped as much as 20 percent off what they might have paid for a stake in the company, which is worth as much as $70 billion according to some sell-side analyst estimates.
Some controversial board appointments, including the late naming of septuagenarian Simon Murray as chairman several hours after Glencore’s announcement of its intention to float, have rung alarm bells about how easily Glencore might adapt to life as a public company.
Metro, the free morning newspaper, has poached Mirror Group Newspapers executive David Vokes to head up its London 2012 commercial operations.
Vokes is expected to leave Mirror Group Newspapers in the coming weeks.
OMD has appointed Mediabrands’ Steve Blakeman as Asia-Pacific CEO.
CREDIT SUISSE
The Swiss bank has hired Mark McLean from Deutsche Bank as head of its Australian investment bank’s Financial Institutions Group, two sources with direct knowledge of the development said.
UBS AG
Tim Wannenmacher will join the Swiss bank in early May as head of prime broking services for Asia-Pacific, according to an internal memo seen by Reuters.
J.P. MORGAN ASSET MANAGEMENT
The investment arm of J.P. Morgan Chase has appointed Bob Fields as executive director and client portfolio manager in the Tax Aware Fixed Income Group.
JEFFERIES GROUP INC
The global investment banking firm has appointed Paul Kopsky as a managing director in the firm’s Military Housing Mortgage business. Kopsky previously worked with American Stock Transfer and Trust Company.
NOMURA GROUP
The global investment firm has appointed Mark Leahy as head of Debt Origination and Fixed Income Syndicate for Asia.
