Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

A tiny firm led by rockstar banker Michael Klein may make a killing on the $18.3 billion Barrick Gold-Randgold merger

Published by Business Insider on Mon, 24 Sep 2018


Michael Klein's boutique investment bank will split as much as $35 million in fees with Morgan Stanley for its role advising on a gold merger announced on Monday.Klein's firm, M. Klein & Co, is secretive and only employs a handful of bankers.Klein is a former star banker from Citigroup who frequently advises governments and CEOs on complicated financial matters.A tiny and secretive boutique investment bank founded by star dealmaker and former Citigroup executive Michael Klein will split tens of millions of dollars in advisory fees in an $18.3 billion gold merger announced on Monday.M. Klein & Co. will split as much as $35 million in fees with Morgan Stanley for advising Barrick Gold Corporation on its merger with UK-rival Randgold Resources Ltd., according to estimates from consulting firm Freeman & Co.Randgold's advisors, Barclays and CIBC, might earn as much as $45 million, Freeman said.This is not the first time Klein's firm has provided advice tothe Canadian gold miner. In 2015, M. Klein & Co.advised Barrick on the sale of its 50% interest in a copper mine in Chile.Launched in 2012, Klein's firm is regarded less of a traditional boutique investment bank,and more as an "embedded adviser" to CEOs, boards of directors, institutional investors and governments.But that's not to say that Klein doesn't advise big corporations on M&A. The firm also advisedDow Chemical on its $130 billion megamerger with DuPont in 2015.It also reportedly worked with Saudi wealth fund Aramco on its global strategy.But despite its status advising on high-profile matters, the New York-based investment bank keeps a very low-profile. Its website is barebones, aside from one contact number, with no marketing material.It's unclear how many employees now work at M. Klein. A previous report said that the firm investment bankexpanded to 20 employees in 2016 and had established its presence in London and Beijing.Klein spent more than two decades at Citigroup, rising to the role of CEO of global banking and then moving to Europe to take responsibility for a build-out of the bank's investment-banking business in the region before leaving in 2008.See also:JPMorgan's US M&A chief shares the secret sauce for getting deals to pop by flouting an old-school rule of dealmakingBonuses are about to soar across Wall Streetand a group left for dead might wind up the biggest winnerThe dealmaking boom of 2018 could shape up to be one of Wall Street's greatest years on recordJoin the conversation about this storyNOW WATCH: Beware one huge mistake investors often make when the economy is at a crossroads, says Charles Schwab's investment chief
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Nigerian Tenders  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs