☕️Memelord Unmasked

Good morning.

The character behind what is arguably the most well-known and loved (by 820k Instagram followers) finmeme brand, Litquidity, has finally revealed his identity. Hank Medina is the 32-year-old who, having graduated from Cornell, did stints at Jefferies, Wexford Capital and Deutsche Bank before pursuing the ‘Lit’ brand full-time. It’s strangely comforting to know that ‘Hank from DB’ is the man behind the brutal takes on everything from the minutiae of high-finance to office-wear etiquette.

Finmeme-culture connoisseurs among us will also appreciate that while Medina claims he is “not a country club guy,” his latest venture, a private members Bond Raquet and Wellness Club, proves the adage; once a finance bro, always a finance bro.

🏆 LOI Subscriber #TBD

Market movers

Santos shares slid 8% in morning trading on Wednesday, recovering 2% to close at $7.41, after both Santos and Woodside called off discussions over a potential merger. The two companies spent three months in talks to create a $80 billion liquefied natural gas behemoth that would have almost completely consolidated the country’s LNG sector. In a statement, Santos said that “sufficient combination benefits were not identified to support a merger.”

The quick sync

• Omnia Chambers is bucking tradition by upending the typical funding model to lower the barrier to entry for barristers. (Capital Brief)

• The Tax Office made several attempts to sideline the board chief executive, Michael O’Neill, due to his team’s involvement in investigation PwC. (AFR)

• Chinese stock trading surged to a five-month high, after Beijing increased buying led by the country’s “national team” of state-run institutions. (Financial Times)

• Is corporate Australia ready for the impending reporting regime for climate related risks? (Capital Brief)

• The government’s decision to reject additional Qatar flights harmed Australian consumers, Allan Fels’ price gouging report finds. (Capital Brief)

• Colonial First State, TA Associates and EQT line up with bids for Perpetual’s corporate trust and wealth units. Final bids are expected by the end of February. (AFR)(The Australian)

• Uber reported its first full year of operating profits as a public company in 2023, projecting continued growth in Q1 2024 and marking a shift away from its era of growth over profits. (Wall Street Journal)

Trading floor

M&A

• Advent Partners invests in RMS Cloud, its second acquisition of the year. (AFR)

• Fletcher Building and APM face investor concerns. (The Australian)

• Anticipation builds over the potential sale of Craveable Brands, owner of Red Rooster. (AFR)

• Mineral Resources collaborates with JP Morgan to sell 49% stake in haul road corridor. (AFR)

• Santos pressured to explore LNG spin-off after talks with Woodside collapse. (AFR)

Capital Markets

• Maverick Minerals launches IPO at 20¢ per share aiming to raise $5 million. (AFR)

• Centuria Industrial REIT upgrades guidance after first-half profit. (Capital Brief)

• Shares in ZipCo surged 7% on Wednesday amid rumors of takeover interest in the buy-now-pay-later provider. (The Australian)

VC

• CarbonHQ raises $600K to boost transparency in carbon credits. (Startup Daily)

• Angel investors fear exclusion from start-ups due to potential reforms. (AFR)

• Kiki apologises for mishandling New York 'girls' club' plans. (Capital Brief)

People moves

• NAB appoints Andrew Irvine as CEO to succeed Ross McEwan. (BNA)

• New editor of The Sydney Morning Herald and The Age assures no job cuts in the pipeline. (Capital Brief)

• Investors disappointed as McInnes leaves Myer for Blundy's empire. (The Australian)

The watercooler