UPDATE: 2 Greenhill Executives Among Those Killed In Plane Crash
December 20 2011 - 4:03PM
Dow Jones News
Two managing directors of advisory company Greenhill & Co.
(GHL), along with three family members of one of them, were killed
when the small plane in which they were traveling crashed in New
Jersey Tuesday morning.
In a statement, Greenhill identified the two bankers as Jeffrey
F. Buckalew, 45, a managing director and head of North American
advisory activities, and Rakesh Chawla, 36, a managing director
specializing in the financial-services sector. Greenhill also said
Buckalew's wife, Corinne, and his two children, Jackson and
Meriwether, were on board the plane.
Greenhill's chairman, Robert Greenhill, and its chief executive,
Scott Bok, said in a joint statement that "the firm is in deep
mourning over the tragic and untimely death of two of its esteemed
colleagues and member's of Jeff's family." Buckalew, who joined
Greenhill in 1996, was among the company's first employees. "They
will be sorely missed and our sympathies go out to their families
and friends."
The plane, a single-engine turboprop registered to Cool Stream
LLC of New York City, crashed on Interstate 287 near Morristown,
N.J., the Star-Ledger of Newark reported online Tuesday, citing
state police. The crash occurred around 10 a.m. near Exit 34 on the
highway, according to the report, resulting in multiple lane
closures.
The plane belonged to Buckalew, an experienced pilot whose
passion was flying, Greenhill said in its statement Tuesday. Press
reports said the plane was headed for DeKalb-Peachtree Airport in
Atlanta and lost contact with a Federal Aviation Administration
radio tower in New York shortly before the crash.
Buckalew received an undergraduate degree and a graduate
business degree from the University of North Carolina and worked at
Salomon Brothers before joining Greenhill the year of its founding
in 1996. He was a deal generalist, advising VF Corp. (VFC) on its
$2 billion acquisition of Timberland earlier this year and advising
on past deals for Roche Holding AG (RHHBY, ROG.VX), Emerson
Electric Co. (EMR), and Delta Air Lines Inc. (DAL).
Greenhill's Bok said both men were considered friends by
everyone at the firm. He said Buckalew was active in recruiting and
other internal matters and was frequently the winner of the firm's
summer golf outing.
Chawla had an undergraduate degree from University of Virginia
and a graduate business degree from the Wharton School of the
University of Pennsylvania. He worked at Credit Suisse Group AG
(CS, CSGN.VX) and Blackstone Group LP (BX) before joining Greenhill
eight years ago. Recently, he worked with the U.S. Treasury to help
it manage and dispose of its investment in American International
Group Inc. (AIG).
Rakesh leaves behind a wife and three daughters.
-By Liz Moyer, Dow Jones Newswires; 212-416-2512;
liz.moyer@dowjones.com
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