Entity Dossier
entity

Greg Wilkins

Strategic Concepts & Mechanics

Risk DoctrineNo Cross-Pledging of Crown Jewels
Signature MoveDeals Hated, Strategy Loved
Signature MoveNever Run Out of Cheque-Writing Time
Relationship LeverageShare the Pie to Keep the Table
Strategic PatternEcho Bay Model Then Surpass It
Signature MoveKlosters Mountain as Strategic War Room
Identity & CultureRefugee Hunger as Permanent Engine
Cornerstone MoveWritten Memo Then Unanimous Sign-Off
Identity & CultureReturn to Canada Only With Success
Cornerstone MoveBuy Producing Assets at Cycle Bottom, Never Explore
Signature MoveTrust Mining Operators Then Stay Away
Operating PrincipleFocus as Compensation for Ordinary Talent
Cornerstone MoveBorrow Against the Asset to Buy the Asset
Decision FrameworkGeopolitical Disruption as Buy Signal
Strategic PatternScarcity Premium as Entry Signal
Signature MoveControl Without Majority Ownership

Primary Evidence

"At breakfast in Klosters on the morning of December 20, Peter Munk reviewed with great satisfaction the fax that had arrived from his financial people, Jerry Garbutt and Greg Wilkins, on the matter of Goldstrike development financing. Munk’s team recommended that, of the two banks submitting offers—the Toronto-Dominion Group and the Union Bank of Switzerland Group—the lead mandate be awarded to the UBS group, which offered US$441 million secured against 1,050,000 ounces of gold over eight years, extendable to eleven years. There it was, a commitment for US$441 million, which, according to Bob Smith, would turn the little mine called Goldstrike into North America’s top gold producer."

Source:The Golden Phoenix : A Biography of Peter Munk

"Gerry Schwartz and Anthony and those guys look at six deals a week! I hate deals. When I do deals, it upsets me, makes me nervous. I always feel that I’m going to make a mistake. I do them to attain my strategic objectives. It sometimes takes a few deals to get there. But I never do a deal per se. I hate it! It’s a totally different mentality. Yes, I did Lac, but God save me from another Lac. And yet I'll do one next year again— maybe because I have to—for getting Barrick in position. But its a different mindset. Their business is to look at deals, like investment bankers. Gerry’s background was as an investment banker. Anthony had some time at First Boston, the investment bankers. I like people like Bill Birchall and Greg Wilkins and Bob Smith, who have run a business for twenty or thirty years and build permanent entities and value for their shareholders. Different mentality."

Source:The Golden Phoenix : A Biography of Peter Munk

"The reality check is that I call my colleagues. That used to be Gilmour, now it’s also Birchall, always, for the last thirty years. It’s also Greg Wilkins, and others whose judgement we trust. Certainly when it comes to Barrick it’s Smith. Then I pitch them and then usually they go along. But after all, their destiny is tied up with their decision so they are just as involved as I am. Then we have another meeting and we have a fifth meeting and eventually we come up with a platform and a position. We listen to each other and talk, and then boom, we go. That's how it works."

Source:The Golden Phoenix : A Biography of Peter Munk

Appears In Volumes