Clive Standish is a Melbourne lad who has made it on to Crikey’s list
of the 50 most successful Australian management exports. The former
managing director of UBS in Australia has risen through the ranks of
the Swiss investment banking giant to be finance director of the global
operation, based in Zurich.

Standish is believed to have
received $25 million in his final year running the successful
Australian operation but his ties to Australia remain strong. For
instance, sitting in the basement car park of 530 Collins St, UBS’s
Melbourne head office, is a six-figure four-wheel drive Porsche. This
sort of indulgence doesn’t come cheap, but Standish likes to have a set
of wheels available for his occasional visits home.

We trust
that Clive also maintains an up to date transponder on his twice a year
Porsche, so that he can whizz through the Domain tunnel and not be hit
by a Transurban fine. UBS was one of three brokers who handled the 1996
Transurban float but some clients were squeezed out as Standish was
allocated $400,000 worth of units in the giant tollroad, which are
today worth more than $3 million if he has held on for an extremely
profitable ride.

There is also no capital gains tax payable on these profits
because of the absurdly generous infrastructure bond structuring that
Macquarie Bank came up with, something that incoming Treasurer Peter
Costello quickly closed down.

Standish might just be headed for the BRW Rich List as he has also
splashed out on some cattle properties, which presumably get an
occasional visit from the lad in his shiny new Porsche when he ventures
Down Under.

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Peter Fray
Peter Fray
Editor-in-chief of Crikey
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