Former Oil Search managing director Peter Botten has branded UBS “greedy” for the fees it charged on a deal in Papua New Guinea and said he was uncomfortable with the investment bank being on both sides of the transaction.
In much-anticipated evidence to the royal commission into the so-called “UBS loan scandal”, Mr Botten singled out the investment bank for criticism.
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Angus Grigg is an investigative reporter based in Sydney. He has worked as a foreign correpondent in China and Indonesia, and has won two Walkley Awards. Connect with Angus on Twitter. Email Angus at agrigg@afr.com
