Ben Brazil a tough nut to crack at Packer probe

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There were never any doubts that former Macquarie banker Ben Brazil was a busy man during his tenure at the millionaire factory, but evidence presented to Patricia Bergin’s casino inquiry has cemented just how much he was juggling at the time.

Counsel Assisting Scott Aspinall was doing the asking this time around, and took particular interest in Brazil’s schedule — as a full-time banker, and one of the most handsomely paid at the time, along with his position on the Crown board and its audit and governance committee.

So busy was Brazil at the time it seems, that he even forgot his membership of the finance committee — albeit listed in 2011 as having no meetings.

“It does seem I was on the finance committee,” he told Aspinall, darkness still behind him as he took questions from London.

When directed to that year’s annual report, “that may explain why my recollection was not perfect … that does seem to be what the annual report says”.

He conceded that the time he spent in his capacity as director was significantly less than what he spent as protege to former chief Nicholas Moore at Macquarie, given the non-executive nature of his tenure — probably only “one or two” days a month, including his attendance at in-person meetings in Melbourne.

With meetings kept to two hours, it seems Brazil could still get a lot done — they don’t call him Brains for nothing.

He shared with the com­missioner that the key function was to “take a bunch of the burden” of governance from the board.

That and “thumping the table” — a phrase which was repeated on several occasions in regards to the China arrests and even garnered a laugh from the usually stern-faced businessman.

“When you were thumping the table in October, do we take that as metaphoric?” Bergin asked with a smirk, leaving her subject and others in the ­courtroom audibly entertained.

“I think it was metaphoric,” he answered.

A fan of the metaphor, Brazil also made reference to “flying a kite” in regards to potential privatisation plans, “stand up and be counted-ness” or emails with Packer “shooting the breeze” on theoretical M&A plans.

His interrogation also saw the first mention of Packer’s former fiance, pop diva Mariah Carey — if only briefly.

Brazil was prodded on his personal relationship with Packer, including their Park Street Partners venture.

Emails were tendered to the court in which Packer says “you are with me, best seats”.

Packer also asks special assistant Ishan Ratnam to “make sure Ben has the best room and as many tickets as he needs”.

As questioning wrapped up near the three hour mark — with the vista behind him noticeably brighter — Brazil made sure to clarify that he did not in fact take Packer up on the offer of seats — whether that’s for the company or the potential conflict we’ll never know.

Rankin remembered

When it comes to business and board membership, it seems the elusive Robert Rankin wasn’t in it to make friends.

The former Crown chairman, whose notable absence at the inquiry has engrossed this very column, again was a key topic of questioning in Thursday’s hearing, with both James Packer and Ben Brazil probed further on their last interactions with Rankin.

Robert Rankin.

It seems it was Packer that sparked up the conversation with Rankin in April, congratulating him on an investment with Seek and Square Peg founder Paul Bassat — a throwback perhaps to simpler times when the three, along with former Telstra chief David Thodey, joined a delegation to pursue investments in Israel.

“It wasn’t a long call,” Packer told commissioner Patricia Bergin, adding: “I hadn’t spoken to him a year before that.”

“Did you part as friends?” Bergin probed further.

“I would say as associates, not as friends.”

Later Bergin similarly prodded Brazil on how the two seemingly escaped each other’s orbit despite both being key forces on the Sydney, then London, finance scene.

Their relationship was described as “not extensive” by Brazil: “He was chairman, I was a director. We encountered each other in board members but not elsewhere.”

“You were both bankers?” Bergin asked, “... And you are both in London now?”

Oxford Circus it seems is big enough for the both of them.

“I haven’t seen him since the last Crown board meeting I attended,” Brazil answered.

At least we’re not the only ones Rankin seems to be evading.

Arise Sir Mac

Former BHP chief Andrew Mackenzie has joined the ranks of Frank Lowy and Peter Cosgrove, on Thursday announced as one of the latest recipients of a knighthood from her majesty the Queen.

As part of her majesty’s birthday honours list, Mackenzie was called out for his services to business, science, technology and UK/Australian relations — never mind that little Samarco slip up.

Sir Andrew Mackenzie.

High Commissioner Vicki Treadell lauded his service in bringing Britain and Australia together, saying he had been a “great champion of trade and investment”.

With his new title perhaps Mackenzie can muscle a pay rise at his latest gig as a non-executive director at Shell, alongside chair Charles Holliday, though we have no doubt his paypacket is already fit for a king.