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Long summer days: How BoQ swooped on ME Bank

Long summer days: How BoQ swooped on ME Bank

BoQ’s George Frazis and Patrick Allaway used high pressure M&A tactics to steal their quarry from more fancied rivals ANZ and Bendigo Bank.

ME Bank was the magpie in Bank of Queensland’s Project Condor. 

Sarah Thompson and Anthony Macdonald
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It was the end of January when Bank of Queensland chairman Patrick Allaway and CEO George Frazis lobbed a $1.325 billion bomb.

After cancelling Christmas holiday plans and working through the break, gunslingers Allaway and Frazis were ready to draw.

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Sarah Thompson
Sarah ThompsonStreet Talk editorSarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald
Anthony MacdonaldColumnistAnthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com

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Original URL: https://www.afr.com/companies/financial-services/long-summer-days-how-boq-swooped-on-me-bank-20210322-p57d0j