Chapter 5
Rogues and scandals
1 Macquarie’s 1989 annual report lists Simon Hannes as among the year’s new executive directors.
2 27 May 1996 report in The Australian by Matthew Stevens.
3 There were also reportedly cultural differences between the two distinct camps and run-ins between Hannes and Ros Headley-Miller, Kleinwort Benson’s deputy joint investment banking boss.
4 https://www.riotinto.com/en/about/business/history
5 https://www.caselaw.nsw.gov.au/decision/549fcf253004262463bda244
6 Hanimex was founded in 1947 after the family fled Germany and arrived in Australia in 1939.
7 https://www.caselaw.nsw.gov.au/decision/549f9bbb3004262463b19234
8 Cameron also separately knew Moss through The Scots College in Sydney, where they’d attended but in different years.
9 Longo went full circle, returning to the ASC—by then the Australian Securities and Investments Commission, ASIC—as its chairman in 2021 after a long stint at Deutsche Bank.
10 Moss adds on Hannes: ‘He was well paid and his career was going very, very well. It was astonishing frankly.’
11 https://www.afr.com/politics/tnt-insider-trading-the-case-against-hannes-19970527-k7fem
12 ‘Hannes to Macquarie MD: I’ve had a difficult day’, https://www.afr.com/politics/hannes-to-macquarie-md-ive-had-a-difficult-day-19990610-k8tey’. In this article Allan Moss said the bank had launched its own probe into potential breaches of Chinese walls after two clients of its broking unit made large profits from TNT options.
13 ‘In 1987, Wall Street was shocked when Bob Freeman was arrested for insider trading. Now the case is finally closed’, 4 October 1993: https://money.cnn.com/magazines/fortune/fortune_archive/1993/10/04/78399/’.
14 ‘Hannes: insider trader’, https://www.afr.com/politics/hannes-insider-trader-19990812-k8xld.
15 https://www.caselaw.nsw.gov.au/decision/549facef3004262463b6ba6d
16 Open outcry trading occurred at stock or futures exchanges and typically involved shouting and hand signals to communicate trading information and directions.
17 https://www.britannica.com/topic/Rocky-film-by-Avildsen
18 https://www.caselaw.nsw.gov.au/decision/549f6b383004262463a5457f
19 https://www.smh.com.au/national/guilty-banker-could-have-had-250-000-in-the-bag-20051012-gdm8cf.html
21 The judgment went on to say: ‘MEL [Macquarie equities] risk management queried the manner and extent of your trading in Bill Express shares late in the offending period. You sought to deflect their inquiries.’
22 ‘Macquarie bankers drug colleague with valium and laxatives’, https://www.smh.com.au/business/markets/macquarie-bankers-drug-colleague-with-valium-and-laxatives-20170621-gwvb8e.html.
