Sounds pretty cool, man.
Roger Jenkins, once known for Middle Eastern deals as one of the highest-paid bankers at Barclays, is swapping dollars for ounces as the Briton invests in a marijuana venture in his adopted home of California, according to people familiar with the plans.
Bloomberg News reports that the financier, who left Barclays in 2009, is among backers of an investment fund that has acquired land in California to set up a marijuana business, said the people, who asked not to be identified as the stake isn’t public. The venture may seek to capitalize on the outcome of the state’s November vote on whether to legalize and tax recreational pot use. Jenkins didn’t return calls to a phone number listed under his name in Malibu.
Jenkins, 60, worked for Barclays when its investment bank was run by Robert Diamond and played a key role in brokering some of the firm’s $15.5bn cash injections from Middle Eastern investors during the financial crisis in 2008. That investment helped the bank avoid the state rescues that were necessary for Royal Bank of Scotland and Lloyds Banking Group.
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