Mongolian models (2)

Extracts from Sydney Morning Herald about Alex Turnbull and his stint at Goldsman Sachs.

Alex Turnbull is the son of Australian PM:

[...]

But he then went further, stating that he had called out the “insane pricing” and “bizarre structure” of the bond raising for 1MDB conducted by Goldman and “got yelled at by compliance for casting doubt on the integrity” of the bankers conducting the bond raising.

“As a result I was 'b tracked' and resigned,” he said.

Turnbull then threatened legal action in another email, adding: “I am not going to do this in public to drive traffic to your site and cause a media circus.”

*Sahathevan was clearly not too worried. He duly posted the correspondence on his blog.

* Ganesh Sahathevan is a Singapore blogger who published emails by Alex Turnbull to him about not personally profiting from the 1MDB issue but which were nonetheless embarrassing to Alex Turnbull. The latter threatened to sue the blogger who ignored the threat.

Turnbull's claims then surfaced days later in the article in The Australian, which included fresh comments from the 35-year-old. The result was the media circus he had hoped to avoid in the first place.

Turnbull told Fairfax Media last week that he was "misquoted" and has since gone to ground. He declined to comment for this article when repeatedly approached on Wednesday.

Goldman has hotly denied any suggestion Turnbull was sidelined for raising governance concerns.

"Mr Turnbull had no involvement in the 1MDB transactions. Not surprisingly, we haven’t found any electronic communications of Mr Turnbull identifying any improper conduct with respect to these transactions or any action taken against him as a result," Goldman said in a prepared statement this week.

But things got worse for Turnbull this week when it emerged he had sent Goldman a 2000-word resignation email that did not include any mention of 1MDB. Instead, he complained at length about compliance rules that prevented him trading media stocks because of his father who was Australia’s communications minister at that time.

“This is an unfair form of discrimination,” Turnbull complained in the email. “I now can’t invest in technology, media, telecoms or anything of the purview of my dad’s ministry.

“Ruling out all of technology is very crippling. If you want to know how I felt about my career at GS when this was explained to me here is a nice clip from Aliens,” he said citing the cult sci/fi horror movie.
Tit-for-tat world

According to the email, which has been seen by Fairfax Media, Turnbull asked to be moved to another division of the global investment bank. His request appeared to fall on deaf ears. Sources close to Goldman claim he was not a strong performer and that Turnbull's anger comes from being passed over for promotion.

Turnbull does appear to have had a special interest in the media, communications and tech sector. However, it is standard practice for investment banks to impose rules that limit potential conflicts of interest.

Turnbull also complained about Goldman’s restrictive social media. According to the resignation email, they should have embraced his desire to exchange ideas and research with fellow traders and investment bankers outside of Goldman Sachs’ Chinese walls.

This is a content business, complained Alex, you need ideas “in order to make money".

“It is a tit-for-tat world. You can’t skulk on chats hoovering up other people’s material and work for extended periods of time without getting kicked out if you do not contribute to the conversation.”

So basically he wasn't involved at all in the 1MDB issue when he was in Goldman Sachs.

Quote he had sent Goldman a 2000-word resignation email that did not include any mention of 1MDB. Instead, he complained at length about compliance rules that prevented him trading media stocks because of his father who was Australia’s communications minister at that time. unquote.

Hmmm, I wonder what made him raise it NOW, and such a heroic story too, when he wasn't involved in 1MDB at all?

Second hmmmmmmmm, I wonder what made him raise the issue of jungle burial of Mongolian models NOW, and such a shocking story too, when he is just an Aussie banker who wasn't involved in the Altantuyaa Shaariibuu murder case?

Quote "How many Mongolian models did we have to bury in the jungle for this pricing?" unquote.

I am quite confused.

Read also:

(1) Aussie PM's son voiced concerns over burial of Mongolian models.

(2) Mongolian models.

and just in case: