Greenhill starts Mizuho with costly culture clash

Greenhill & Co

27/10/2023 16:36

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
    By John Foley
       NEW YORK, Oct 27 (Reuters Breakingviews) - Scott Bok
runs the M&A boutique, but also chairs the board of trustees at
UPenn, where a fight over antisemitism has erupted. The Japanese
bank is paying him generously to help its takeover plan thrive.
A campus backlash led by Apollo’s boss threatens to exact a
heavy price, too.    
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Apollo Global Management Chief Executive Marc Rowan on Oct. 11
called for University of Pennsylvania President Liz Magill and
Scott Bok, the chairman of the school’s board of trustees, to
stand down over what he says is an atmosphere tolerant of
violence against Jewish people.
    Rowan is a major donor to the university and Bok is also the
CEO of investment banking firm Greenhill.
    Rowan had objected to the content of a Palestinian literary
festival the university hosted in September. Other benefactors,
including former Utah Governor John Huntsman, have joined Rowan
in pulling their funding.
    Greenhill, a merger advisory boutique, agreed in May to sell
itself to Japanese bank Mizuho Financial for $550 million. The
deal has yet to close. Bok is due to become chairman of M&A and
restructuring.

 (Editing by Jeffrey Goldfarb and Aditya Sriwatsav)
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