INVESTMENT bank JP Morgan Cazenove is likely to have won a role advising Lonmin on its $800m rights issue. It has worked with the miner previously, on a share subscription with Shanduka last year. The team is likely to be headed up by Michael Wentworth-Stanley, a senior rainmaker at the bank. He has been a managing director at JP Morgan Cazenove since 2005 but began his career as a chartered accountant in 1974. Wentworth-Stanley joined Cazenove in 1975 and was a partner at the firm between 1982 and 2001 before becoming the managing director of Cazenove & Co from 2001 until 2005. Most recently, he has been involved with Serica Energy and its project in the North Sea. Other companies he has worked with include GCM Resources and technology investment group Imperial Innovations. In 2010 he led the team working for banknote printer De La Rue when it rejected a takeover bid.
Citigroup is also thought to be working with Lonmin on this transaction. Managing directors Tom Reid and Alex Carter have been involved with Lonmin previously, and it is likely they would be heading up the team.
Other banks that are speculated to have a role include HSBC Holdings and South Africa-based Standard Bank.