BANKING rainmaker David Wormsley, widely known in the City as “The Worm”, is leading Citigroup as joint global co-ordinator and bookrunner on the Glencore listing.
As chairman of UK investment banking at Citi he has been at the heart of several high-profile deals, including a key role in the sale of airport operator BAA to his client Ferrovial for £10.1bn amid fierce competition.
He recently came under fire from former friend Guy Hands over the sale of British music group EMI to the private equity tycoon’s Terra Firma vehicle. Hands lost a multibillion-dollar lawsuit last year after he tried to claim Wormsley tricking him into buying EMI.
Morgan Stanley and Credit Suisse also acted as joint global co-ordinator and bookrunners on the Glencore deal.
Bank of America Merrill Lynch and BNP Paribas will act as joint bookrunners. Barclays Capital, Société Générale and UBS will be co-bookrunners. Liberum Capital is also involved.
On the legal side, Adrian Cartwright is leading City law firm Clifford Chance as the adviser to the banks on the Glencore IPO. A partner at the firm since 2002, he has recently advised AZ Electronics on its $900m (£550m) IPO; and Volkswagen on its £3.9bn rights issue. He joined the firm from Linklaters in 1999.
A Linklaters team led by partners Charlie Jacobs and Patrick Sheil represented Glencore. Jacobs has been at the firm since 1990, while Sheil joined from US firm Fried Frank Harris Shriver & Jacobson in 1995.
Finsbury was Glencore’s chosen PR firm, with a team led by Guy Lamming.