Speculation is mounting that two former prominent Australian investment bankers, James McMurdo and Sean Walsh, could soon be joining forces for a new venture.
The exact nature of the start-up is unclear, but some believe the pair could be looking to launch a boutique funds business.
An advisory firm has also been suggested.
Mr McMurdo and Mr Walsh previously worked together within the top ranks of Goldman Sachs in Sydney.
Before that they worked at investment bank Citi.
Mr McMurdo left Goldman Sachs in 2013, where he was a partner.
He had held senior investment banking positions in Australia and Europe, including co-head of investment banking in Australia and New Zealand, and became Australian chief executive at Deutsche Bank.
He then spent four years in Hong Kong where he was Deutsche’s vice-chairman of investment banking.
Last year, he was appointed to the board of Ramsay Health Care.
Mr Walsh, meanwhile, left Goldman Sachs last year, where he was most recently a managing director and co-head of the bank’s financing group for Australia and New Zealand.
Talk of the pair launching a firm comes at a busy time in the investment banking industry.
Merger and acquisition activity is emerging with an end to the COVID-19 pandemic in sight and booming equity market conditions.
It also comes as the market becomes increasingly competitive in the investment banking space, with the recent launch of the new firm Barrenjoey Capital Partners, backed by top UBS operatives, and the launch of New Zealand advisory firm Jarden in the Australian investment banking market.
Australian-listed funds management business Magellan Financial Group has a 40 per cent stake in the new investment and advisory group Barrenjoey, with former UBS banker Guy Fowler to be executive chairman and former Challenger Financial boss Brian Benari to be chief executive.
British bank Barclays has committed $45m for a 9.99 per cent economic stake and the remaining 50 per cent will be owned by the staff.
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