FT News Briefing The fall of Greensill Capital
Mar 4, 2021
Robert Smith, FT’s Capital Markets correspondent, dives into the dramatic tale of Greensill Capital, a company teetering on the edge of insolvency. He sheds light on the founder's extravagant lifestyle and ambitious mission to democratize finance. The discussion reveals Greensill's complex sales tactics that attracted major investments while hiding risks. Smith also explores the broader consequences of Greensill's collapse, emphasizing systemic risks to the supply chain finance sector and how it mirrors historical financial crises.
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Greensill's Jets
- Lex Greensill, Greensill Capital's founder, uses four private jets.
- Another supply chain finance professional flies Ryanair, highlighting the contrast.
Greensill's Background
- Lex Greensill grew up on a sugar cane and melon farm in Australia.
- He claims this experience showed him the negative impact of inefficient financial supply chains.
Greensill's Vision
- Greensill's vision was to help small businesses get paid faster.
- He aimed to democratize capital and make finance fairer.