Couch-surfing inside the investment bank, an almost $US10 million pay cheque as a junior trader and clashing with peers are all parts of the legend of Meli, described by colleagues as an unlikely figure in Wall Street's most elite club: Abrasive but brilliant, subversive but successful, and above all one of its most "eccentric" figures. Now, after exiting the investment bank last year, Meli is setting up his own venture in some of the most treacherous markets in generations.
Meli's ticket to escape the mandatory deployment in Iran's army was a world physics competition. He later left the country altogether on a scholarship to the Massachusetts Institute of Technology. Meli's justification: "Harvey had an open-door policy.""I was worried about losing my job because it would have meant deportation to Iran," Meli said. "I didn't want to risk that. But I wasn't stupid -- I never slept on Gary's couch." Cohn, known for his hard-charging ways, eventually joined President Donald Trump's White House.Word of Meli's antics started making the rounds soon after his arrival.
The group came to be seen as a clique inside Goldman's trading operation. Once a loose coalition of fewer than a dozen executives, it has been at the forefront of some of the most knotty transactions that can churn out big "P&L," jargon for profits and losses. Its deals ranged from helping Sprint raise cash backed by airwaves, to financing Mexican toll roads.
"Bottom line: housing is in free fall," he wrote in an email in August 2006 after poring through reports. Sundaram's crew ramped up wagers against asset-backed indexes and bond-insurance companies. Meli said he framed a printed copy of that email after the hedges paid off for Goldman. Meli also had a hand in another incident that reverberated across financial markets.
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