A50 Australian Economic Forum a success

Today’s behind-closed-doors powwow at the Sydney Opera House, the A50 Australian Economic Forum, is already a raging success if the number of people getting credit for the shindig is any guide.

Canberra types are giving thanks to disrupter-in-chief Malcolm Turnbull and Trade Minister Andrew Robb, but while the latter has been a key catalyst the real driving force behind the get-together is US investment bank Citi.

Glenn Stevens kicked things off last night with dinner at Peter Gilmore’s Quay restaurant, but he’s in media blackout mode ahead of the year’s first RBA board meeting on Tuesday, so he won’t be at today’s meeting.

Local bosses set to speed-date local and international investors include BHP’s Andrew Mackenzie, AMP’s Craig Meller, Transurban’s Scott Charlton and Downer’s Grant Fenn, appearing ahead of giving evidence in a shareholder class action next week.

Treasury boss and former UBS bigwig John Fraser will also be there, but not his predecessor Martin Parkinson — who was squeezed out by Tony Abbott only to be rehired as head of the PM’s department by the triumphant Turnbull.

And there’ll be pollies galore, keen to present Australia in its best light as an investment destination, even after the resources boom: in addition to PM T and Robb, Treasurer Scott Morrison, Infrastructure Minister Warren Truss, NSW Premier Mike Baird and newly rehabilitated senator Arthur Sinodinos are on the guest list.

There will be panels throughout the day for the 20 OS investors and 10 locals, who all up have about $14 trillion under management, and if the confab goes well Citi hopes to bring it back next year.

Square peg, round hole

The sight of one of the founders of Seek, Matt Rockman, walking his dog around Melbourne’s leafy inner east has raised a few eyebrows among the city’s chattering classes.

Isn’t this the same Rockman who 18 months ago relocated to Los Angeles with much fanfare to spearhead the US expansion of venture capital firm Square Peg Capital?

Remember one of Square Peg’s backers, Justin Liberman of billionaire Liberman family fame, said at the time that “Matt, through his networks, will be able to find some really great deal flow. We think he will open doors.’’ But apparently that door is now firmly closed.

Rockman remains a director or advisory board member of a number of small US firms including music rights platform songtradr.com.

He’s also a director of Unlockd, a Melbourne mobile ad start-up backed by a string of high-profile investors including Lachlan Murdoch, former Seven Group chief executive Peter Gammell and Catch of The Day co-founders Hezi and Gabby Leibovich.

This week Unlockd sealed a deal with US telco Sprint Telecom, marking its first foray into the global telco space. But it’s still missing a vowel.

Name of the game

How long will it be before BHP Billiton becomes just plain old BHP again? Most of the assets the Big Australian bought in its overblown 2001 takeover of Brian Gilbertson’s Billiton now sit in another company, South32, the spin-off of sub-par mining assets.

After getting a $38 million package in 2003 Gilbertson himself is long gone, spending the past decade pursuing interests including feuding with Russian oligarch Viktor Vekselberg over Faberge eggs.

Leaving the Billiton name in the moniker is hardly a good advertisement for past decisions. While it may not be a priority at a time when there is the Samarco dam burst, the commodities price bust and an unsustainable progressive dividend policy to deal with, it is believed name reversion is on the cards at BHP. Stay tuned.

Big-picture guy

Imitation is the sincerest form of flattery, so full marks to ANZ rising star Fred Ohlsson, who’s wasted no time following in the footsteps of new boss Shayne Elliott by embarking on a selfie spree with branch staff.

Ohlsson, who’s said to achieve the impossible by combining a background in consultancy at Ian Narev’s old stomping ground, McKinsey, with real live people skills, flew into Oz on Wednesday night and was in Paramatta posing up by yesterday morning before going on to ANZ’s Chinatown branch and in to the office. Today the tour continues in Melbourne.

The former NZ boss doesn’t even officially start his new gig as head of Australia until Monday.

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