We sometimes suspect the Chinese walls at some brokerages are paper-thin. But those at UBS must be as solid as poured concrete. At least, going by recent events at Ausdrill.
UBS has long been the mining service company's house broker. In August, it handled Ausdrill's $250 million capital raising to buy Barminco. And in February, it sold the 10 per cent stake in Ausdrill offloaded by ex-CEO and founder Ron Sayers (who was also a major shareholder of Barminco, incidentally).
Loading...
Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com
