Macquarie Capital has hired Mark Bendall for a new position as head of resources for Asia, according to sources. Bendall, who will start his new job today, is joining from the investment banking division at Nomura where he has worked since January 2009, most recently as Asia-Pacific head of metals and mining.
At Macquarie he will hold the title of senior managing director and will oversee the resources division in the region, which includes metals and mining as well as energy. He will be based in Hong Kong and will have a dual reporting line to Kalpana Desai, the head of Macquarie Capital Asia, and to Robert Dunlop, who is global head of resources.
Macquarie Capital is the corporate advisory and capital markets arm of the Macquarie Group. It also undertakes principal investing. During the past 12 months the bank has been involved in a number of ECM deals in the resources sector, including the $225 million Hong Kong IPO of Newton Resources and the $230 million IPO of Indonesian diversified energy company ABM Investama.
It is also a bookrunner for Inner Mongolia Yitai Coal’s planned listing in Hong Kong which has been premarketing for a few weeks and it is mandated for the upcoming IPO of Mongolia’s state-owned coal miner Erdenes-Tavan Tolgoi, which is expected to raise about $3 billion ahead of a dual or triple listing in Ulan Bator, London and possibly Hong Kong.
Bendall has worked on a number of resources deals in Asian and beyond, including the $232 million Jakarta IPO of Bumi Resources Minerals in November 2010; and the London IPOs of Kazakhstan-based diversified mining company Eurasian Natural Resources Corp and Russia’s biggest silver producer, Polymetal, in 2007, which raised about $3 billion and $720 million respectively.
He also advised India’s GMR Energy on its purchase of a 30% stake in Indonesia-based Golden Energy Mines in 2011; Australia’s Origin Energy on its acquisition of a majority stake in New Zealand power producer Contact Energy in 2004; and on the purchase by Saudi Basic Industries Corp (Sabic) of Huntsman’s UK petrochemical assets for $685 million in 2007.
A graduate of the University of Melbourne, Bendall has 18 years of experience in investment banking, which he has gained working in Asia, Europe and Australia. Before joining Nomura he worked in senior positions at Deutsche Bank and Credit Suisse.
