Mark Steinert’s Stockland departure may have got the real estate market talking on Monday, but there was also plenty of discussion about his earlier employer, UBS, and that bank’s rival, Goldman Sachs.
New York-based Goldman Sachs banker Ian Taylor, an Australian, is shaping as the favourite to replace Sarah Rennie as Australia and New Zealand head of equity capital markets. Ms Rennie left Goldmans to join Jarden, which this week hired Ben Gilbert from UBS to run its Australian research functions.
At UBS, Greg Peirce is likely to be named co-head of investment banking for Australia and New Zealand when he returns to Sydney from Hong Kong in three months, after working as the global head of mergers and acquisitions.
Mr Steinert took on the job of running the developer Stockland around 2013 after he was global head of product development and management for UBS global asset management.
Sources say Stockland’s head of residential, Andrew Whitson, is the most likely internal candidate to take his job.
Coal price not right as Kestrel mine owners seek $4.8bn pay dirt
The owners of the Kestrel coal mine will have to convince buyers to pay about $4.8bn for the mine, but the coal price has fallen about 20 per cent since it was first set to hit the market.
St John of God in discussions over Healthscope leases
The not-for-profit St John of God Health Care has discussed with Healthco Healthcare and Wellness REIT taking over some real estate leases from tenant Healthscope.