A charismatic banker with a tremendous work ethic has died of a suspected heart attack in his early 50s.
Simon Cox, a British-born equity capital markets (ECM) banker, who built his career working for UBS in Australia after graduating from Oxford University nearly 30 years ago, died of a suspected heart attack on Saturday night. After nearly 22 years at UBS and nearly two years at Credit Suisse, Cox was due to start working for Bank of America early next year.
Colleagues described Cox as, "wickedly intelligent, very charming and very charismatic," with a strong moral compass, massive vocabulary, and the ability to, "tell a funny story like few others."
Cox also had a massive work ethic. There were times he was working on one new initial public offering (IPO) every week. In 2016, for example, he famously completed 33 IPOs in 30 months. "He had a great ability to build tight, respected relationships with CEOs and CFOs, particularly on fatiguing IPO roadshows requiring the team to be travelling around the globe for weeks on end, and repeating the same meeting eight times a day," said one former colleague. "He has probably worked on more deals than many in the markets and he could tell you about each and every one of them."
For all Cox's enthusiasm and talent for his job, he also took his health seriously. At Credit Suisse he would often walk 7.5km to the office, and after his IPO marathon in 2016 he took extended leave from UBS to rest and recuperate. At the time of his death, he appears to have been on gardening leave before joining Bank of America. "We will all miss his intellect, humour and kindness," said the chief executive of Credit Suisse in Australia.
Separately, David Solomon's 1MDB headache at Goldman Sachs just got more intense. Amidst a general market rout yesterday, Goldman's share price fell 7.5% - the most in more than seven years and by twice as much as any other U.S. bank. Only Morgan Stanley came close to matching the fall, with a drop of 3.5%. The fall came as analysts suggested Goldman could be exposed to costs of up to $2bn from lawsuits and probes, including $1bn relating to the allegation that Goldman helped launder hundreds of millions of dollars in Malaysia.
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