Scott Bok, the chair and chief executive of Greenhill & Co, is set to collect as much as $78mn in payouts as a result of the boutique bank’s $550mn sale to Japan’s Mizuho Financial Group.
A securities filing published on Friday night revealed payments owed to Greenhill executives as well as details on how the buyout came together. The deal was signed in May less than seven weeks after an initial April 6 meeting between Bok and the head of Mizuho’s US securities business, Jerry Rizzieri.
Mizuho agreed to pay more than double Greenhill’s stock price at the time. It will maintain the Greenhill name as Bok’s team will become the Japanese firm’s M&A and restructuring advisory division, sitting within the existing Mizuho investment bank.
Read the full story on the Financial Times here.