Citi's new top equity banker shows how memories fade
Hats off to Citi's PR machine with the announcement last week that John McLean would be returning from Singapore as head of equity capital markets for Australia and New Zealand. Most (if not all) of the coverage in the finance press reprinted its media release.
Or, naturally, focused on McLean replacing Rob Jahrling, the three-time Olympic rower who presided over the bank's mishandling of a Goodman block trade last year. Citi's misjudgment around the price of $1.9 billion of Goodman shares led to a $70 million loss for the firm. Few recover from such a big, single loss. Jahrling was always going to be on borrowed time.
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AU Financial Review
10 hours ago
- AU Financial Review
Citi's new top equity banker shows how memories fade
Hats off to Citi's PR machine with the announcement last week that John McLean would be returning from Singapore as head of equity capital markets for Australia and New Zealand. Most (if not all) of the coverage in the finance press reprinted its media release. Or, naturally, focused on McLean replacing Rob Jahrling, the three-time Olympic rower who presided over the bank's mishandling of a Goodman block trade last year. Citi's misjudgment around the price of $1.9 billion of Goodman shares led to a $70 million loss for the firm. Few recover from such a big, single loss. Jahrling was always going to be on borrowed time.
Mercury
11 hours ago
- Mercury
Mystery buyer of Sydney's skinniest waterfront revealed
Olympic gold-medalist swimmer Mark Kerry and his wife, interior designer Lynda are whispered to be the mystery buyers of Sydney's skinniest harbourfront property in Darling Point. The property was listed with $20m hopes in January, which by its February exchange had been adjusted to $17.5m. The four-level, four-bedroom, three-bathroom Carthona Avenue home occupies 207 sqm with a 6 meter sandy beach. MORE: Sydney's skinniest waterfront has eyewatering price It was a right-of-way slipway for nearby flat owners when the house was built in the early 1980s by the developer Bill Shipton, who died last September, aged 85. Melbourne accessory designer Gregory Ladner and his partner, Mark Grenville were the vendors, having purchased it for $15.5m in 2022 from the Dicker Data co-founder Fiona Brown. The bijou sur mer that sits between historic Carthona and Neidpath has been popular with Melburnians, with past owners including the late socialite Lady Susan Renouf. It was Renouf's last Sydney house, which she sold when moving back to Melbourne to be with her daughters in the mid-1990s. Renouf sold to the Melbourne socialite Dianne Allen for $2.9m with its next owner, the acclaimed Melbourne-based landscaper Jack Merlo paying $6.15m in 2009. For many years it was dormant during absentee investor Carl Spies' ownership – other than its use by skylarking rich squatters for raves in the 1980s. The waterfront was then lavishly restored by interior stylist Barry Byrne under the generous patronage of landlady Dorothy Spry, who had paid $2.4m in 1989. MORE: Ugly showdown: Hugh, Deb split $36m asset MORE: 'Don't give f**': Billionaire MrBeast needs cash The Kerry's recently sold a four-bedroom penthouse in Double Bay to Goodman Group chief executive Greg Goodman for $20m. It had been a $15.25m off-the-plan purchase in the SJD development on Cross Street. The couple had previously owned in Darling Point which they sold for $29.25m in mid-2023.
The Age
15 hours ago
- The Age
‘I'm not going to slam swimmers': Chalmers' surprising response to Magnussen's Enhanced Games quest
World Aquatics has threatened to ban current athletes who associate with the Enhanced Games or try to compete at next year's event in Las Vegas, even if they don't take performance-enhancing drugs. Enhanced Games boss Aron D'Souza has offered to pay the legal fees of swimmers who want to challenge World Aquatics' ruling. World Aquatics will pay swimmers US $20,000 (AUD $30,000) for each gold medal at next month's world championships in Singapore. There is also a world record bonus of US $30,000 (AUD $46,200). The total swimming prize pool is $4.2 million. The Enhanced Games will pay US $250,000 for each gold medal, plus a US $1 million bonus for world records in either the 50m freestyle or 100m sprint. 'I think it'd be pretty enticing for quite a lot of athletes,' Chalmers said. 'I think that swimmers have been underpaid for a very long time at the big competitions. I've never thought about it a huge amount because you do it for the love of swimming … there's not a lot of money to be made in it. 'Look at the guy that did break the world record and his wife coming out and saying he's been to four Olympics, been in two Olympic finals, been in the world championship final consistently … [the fact] he goes from making $5000 a year to a million in one race is incredible. 'I really hope that there is a shift and that we are able to get a little bit more prize money for what we do. It's threatening World Aquatics a little bit. 'That's why they've come out and said that they're banning swimmers, which yeah, fair enough. But also, those swimmers have come out and announced their retirement.' Australian head coach Rohan Taylor added: 'I'm just focused on this team ... and providing the right environment for them; a safe, clean sport. That's what we're about. I'm not really paying attention [to it].' Chalmers has been in great form since taking 12 weeks off after the Olympics, clocking a 100m freestyle time of 47.27 seconds at the Bergen Swim Festival in Norway in April. It was faster than his silver medal-winning performance in Paris (47.48). The 26-year-old is eyeing off a fourth Olympics in LA in 2028 and preparing for the birth of his first child later this year. Loading 'It was a massive shock for me [the time of 47.27]. I'm pretty confident that I'm swimming fast,' said Chalmers, who won 100m freestyle gold at the 2023 world championships. 'This could be the year, which is really exciting. 'Our goal is to be at the Olympics in 2028 together and have our daughter in the stands watching us. 'I truly believe it's achievable. If I didn't believe it was possible, I would have retired. I'm at nine Olympic medals. It would be amazing to get to 10.' Taylor said of Chalmers' swim: 'It made my day when I saw that. I was very happy for him.'
