Peter Smedley, the Australian businessman who died last week, reached the pinnacle of his career in March 2000 when Commonwealth Bank of Australia paid $8.2 billion for financial services group Colonial.

Smedley earned his nickname “Pacman” while building Colonial into one of the country’s largest and fastest growing insurance, retirement savings, banking and funds management groups. Pacman was a circular video game character from the 1980s that ate everything put in its way.