Conflicts of interest at investment banks are a perennial issue, but in recent weeks, the banking arena has been showered with allegations of malfeasance, further tainting the industry’s image. Investment bankers are often accused of lacking integrity.
An 11th-hour attempt by a private equity giant to take part in Transpacific Industries Group’s recent capital raising was blocked by the waste management company and its advisers, Macquarie and CBA Equities.