God of Corporate Hunting - Chapter 218



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◈ Episode 218 Saudi Arabia and UAE (3)

We met again at the HY Emerald Hotel in Zurich.

As soon as I unpacked in my suite, I got down to work.

Yoon Se-bin contacted UBS and set up a meeting.

“They told me to come in tomorrow morning.”

Fortunately, things worked out well for UBS, Saudi Arabia, and the UAE.

“That’s good.”

“Thanks to Mr. Destiny, I got a chance. I never thought this would be possible.”

Yun Se-bin repeatedly expressed her gratitude to Nam Woon-myung.

In fact, the same was true for Nam Yun-myeong.

I never thought I would be able to include national banks from two countries as investors. Anyway, heaven helps those who work hard, and if you work hard, a path will open up in some way.

Nam Yun-myeong was curious about the results in Abu Dhabi.

“What happened?”

“What happened? Ashur readily agreed.”

As expected from a country where the royal family holds everything, decisions and executions were quick.

“Just because we had a meal together at the HY Emerald Hotel?”

“yes.”

How could that be? I noticed that Yoon Se-bin was sparing her words.

As expected, Jo Ha-neul, who was organizing documents on the other side, suddenly barged in.

“The representative has been proposed to!”

Yoon Se-bin’s expression changed dramatically and she looked at Jo Ha-neul.

“yes?”

Nam Woon-myung, who did not understand what was being said, asked again.

“What kind of proposal is this?”

Yoon Se-bin, who had been hesitating while observing the situation, sighed and answered.

“Ashur proposed to me. When we met in Seoul, I told you something was strange.”

At that time, Nam Woon Myung had ignored Yun Se Bin’s words. He had simply taken it as a sign that Ashur was being unusually kind to them.

“Proposal?”

“Yes, as my third wife.”

“Wow! So you’re the wife of the world’s richest man?”

Nam Yun-myeong’s mouth fell open.

I couldn’t tell if it was good luck or bad luck that came to Yoon Se-bin. In any case, it means that he gave Ashur that much charm.

I took another look at Yoon Se-bin.

The more I look at her, the more I see her beauty shine. I had become accustomed to her beauty and had become insensitive to it, but when I looked at her again, the shock I felt the first time came back to me.

Her abilities have also been proven in various businesses. Her family background is also excellent.

It was clear that she was a good match for Ashur as well.

In particular, Yoon Se-bin’s role will be quite important in the policy of entering a post-oil economy.

When his mind became complicated, Yoon Se-bin wrinkled his forehead.

“I wish I could marry an Arab.”

“Huh? That, that…….”

Considering women’s human rights, isn’t this a good choice? The answer wasn’t easy.

“joy!”

Yoon Se-bin, who had snorted, ignored him and focused on his work.

After calming her down, I asked for the results again.

“So what did you decide to do?”

“Of course I declined.”

“Wow! A woman who has met the world’s richest man! And a woman who has rejected him with one stroke of her tongue!”

“Do you want to keep teasing me? You might really end up marrying Ashur!”

Nam Yunming closed his mouth at the speed of light.

Yoon Se-bin told the whole story of what happened at Ashur’s house.

Ashur’s kindness and consideration were felt.

“The reason I decided to invest is because of your ability. It’s not just because I feel good about you. So you can be proud.”

“They asked me to look after the work of the Abu Dhabi Investment Authority, the UAE’s sovereign wealth fund, in an advisory capacity.”

“As expected! Your ability has been recognized.”

The incident in the UAE was surprising, but it was fundamentally because it was Yoon Se-bin that he was able to obtain permission. Even to provide liquidity to the investment of the UAE National Bank.

“But how did you get permission from the National Bank of Saudi Arabia? It must not have been easy to get approval, considering it was a failed investment in the past.”

Nam Woon-myung started the story of how he roasted McClain, the culprit behind the investment failure.

“It gently scratched my pride.”

“Can’t stop it.”

“In particular, when I said that I would invest in the UAE, Saudi Arabia rushed in like a blaze. With the same conditions. Including investment and liquidity support. I would say they cleverly exploited the pride between the two countries.”

“That’s typical of Director Nam.”

We met UBS’ requirements. Now that we have received investment and support from two national banks, they have no reason to refuse.

Suddenly, Nam Woon-myung thought of Korea’s Korea Bank. Korea Bank was not a national bank, so it was not a prerequisite, but it was one of the options available.

“What about Korea Bank? Do you invest in it?”

“No. I don’t. It’s dangerous.”

“Father?”

Yoon Se-bin nodded with a gloomy expression.

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From an outside perspective, Credit Suisse’s investment is fraught with risk. Its size could easily sink Korea Bank.

Therefore, if it is brought up as an agenda item at the board meeting, it will be rejected without exception.

Of course, this time the agenda wasn’t even brought up at the board meeting.

In this matter, it seems that even Yoon Do-cheon was unable to persuade Yoon Yi-baek.

It is not easy to judge whether Yoon Yi-baek’s opposition was for the sake of Korea Bank or to keep Yoon Se-bin in check.

It is difficult to gauge Yoon Yi-baek’s feelings right now, whether he is proud or afraid of Yoon Se-bin, who is growing day by day.

Nam Woon-myeong took Yun Se-bin’s side.

“Korea Bank missed a once-in-a-lifetime opportunity.”

“That’s right. If we had used this opportunity, Korea Bank could have also grown into a world-class bank.”

The bowl is different.

It is the difference between a person who is obsessed with protecting his or her own rice bowl by struggling domestically with the assets inherited from his or her parents and a person who goes out into the world and grows the pie in the wider world.

Our enemy is not domestic but global. The further we look, the wider the world we see.

“What is our strategy now?”

Nam Woon-myeong wanted to hear the future that Yun Se-bin was designing.

“If Credit Suisse is acquired as planned…….”

Credit Suisse is a giant investment bank with assets of 750 trillion won. In terms of size, it is the largest investment they have ever handled.

When bankruptcy was imminent, existing major shareholders such as the Saudi Arabian sovereign wealth fund, Qatar’s sovereign wealth fund, and BlackRock, the world’s largest asset management company, refused to provide support, and the Swiss authorities, unable to bear it any longer, intervened and brought in UBS, the largest bank in Switzerland.

This was a measure that took into account the ripple effect, as Credit Suisse is twice as large as Lehman Brothers, which caused the financial crisis. Even now, the movement is being watched closely by all countries and financial circles around the world.

For the past two years, Credit Suisse has been under constant suspicion for its potential insolvency, and this can be seen as having erupted with the Silicon Valley Bank incident.

“The amount we are acquiring is 3 billion Swiss francs as proposed by UBS, which is equivalent to about 4.3 trillion won in Korean currency. If we convert this to the existing stock price, it is approximately 0.8 dollars.”

Credit Suisse shares are listed on the Swiss Exchange and its ADRs (Awardable Depositary Receipts) are traded on the New York Stock Exchange. Credit Suisse shares were at a high of $8 a year before this incident and at their peak a decade ago, they were at a whopping $30.

“If we can just catch the potential bad debts, the stock price will recover to its past value.”

If you go back one year, you will make 10 times the profit, if you go back two years, you will make 20 times the profit, and if you go back ten years, you will make 40 times the profit.

In fact, the profit is not the problem. If only the bad debts could be fixed, it would regain its position as one of the top 10 large investment banks in the world, and its influence would be indescribable.

What will happen to Yoon Se-bin and Nam Woon-myung, who have such a bank in their hands?

Yun Se-bin looked at Nam Woon-myung with a smile.

“What we do best… is catch potential bad debts, right?”

This is clear when you look at Silicon Valley capital.

After acquiring Silicon Valley Capital, Nam Woon-myung and Yoon Se-bin thoroughly excluded unpromising ventures from new investments and boldly liquidated problematic investments from existing investment stakes.

This was different from the conventional method of cleaning up visible corruption, because Nam Woon-myung’s ability was to detect potential corruption.

Except for the initial period when they took over, Silicon Valley Capital has not had any problems during the subsequent financial crisis. The effects are only beginning to show.

As time goes by, Silicon Valley Capital will stand out with its amazing performance and growth potential.

Yoon Se-bin also looked forward to the negotiations.

Nam Yunmyeong also had a plan.

If we can filter out new investments that are at risk of loss after acquiring Credit Suisse and clean up future bad debts in advance, the soundness of investment will greatly increase. The result will be proven by improved profits. The normalization of Credit Suisse will bring stability to global finance.

In the future, Yoon Se-bin would grow into a financial giant with global influence.

Of course, behind the scenes, Mega Asset Management and Korea Asset Management also gain windfall profits. Naturally, Nam Woon-myung’s status also rises, knowingly or unknowingly.

‘This was Yoon Se-bin’s dream!’

Yoon Se-bin was at the beginning of the road stretching towards her dream. Naturally, I intend to push her.

“Yes. Just one position where you can influence investment decisions, like at Silicon Valley Capital, would be enough.”

Currently, Nam Woon-myung holds the position of co-CEO at Silicon Valley Capital.

“No matter what happens, the normalization of Credit Suisse is the top priority. For the time being, Credit Suisse must be the center of operations.”

“Congratulations, Representative Yoon.”

Nam Woon-myung sent his unsparing support to Yun Se-bin.

I was more excited about the bright future ahead than I was about the fear of having to take charge of a huge bank.

* * *

We met again in the conference room of the UBS headquarters building, just like that time.

UBS CEO Rene Sain and Inder Child CFO came out with their staff, and Nam Woon-myung, along with Yoon Se-bin and Jo Ha-neul, dealt with them.

“I never dreamed that we would receive investment and support from sovereign wealth funds and national banks.”

The newcomer’s complexion brightened.

Credit Suisse was also a huge burden to UBS, but it seems that it has been relieved of that burden.

“The capabilities of the Korea Asset Management Consortium exceed our expectations.”

Child also exclaimed in admiration.

It was clear from the beginning that they thought support from the national bank would be difficult.

“Our capabilities are much greater than what has been revealed. This is the result of the recognition we have received from financial officials in both countries.”

Yoon Se-bin answered with a smile.

The meeting atmosphere was good.

Saen asked specifically about the process, but Yoon Se-bin cut him off at an appropriate point. There was no need to get nitpicked by providing more information than necessary.

The newcomer explained the overall situation again.

“After the incident, the Swiss financial authorities asked for support from many places. You can think of it as asking all the major financial institutions in the world for their intentions. The Swiss authorities, as well as the US and EU financial authorities, made a lot of efforts to prevent this crisis from spreading. But there was no way. The reason was that they were afraid of potential bad debts hidden in Credit Suisse.”

After clearing his throat, the bird continued speaking.

“So UBS had no choice but to take on the responsibility, and then the prosecution started investigating… It was fortunate that the Korea Asset Management consortium stepped in when things were difficult to handle. If Korea Asset Management had no track record in managing sovereign wealth funds like Temasek or Abu Dhabi Investment Authority, we would not have even considered it.”

That’s why you have to become famous, and when you become famous, you get more opportunities.

“It is true that there is still distrust in Korea Asset Management. However, we will have to endure that and normalize the bank.”

The Swiss authorities have repeatedly expressed their concerns, noting that this deal is not simply a bank sale but is one that is drawing the attention of governments around the world.

“So we have prepared various support measures for normalization.”

It’s nice to hear that.

Those who are meant to be will eventually be.

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