The Business On... Mehmet Dalman, Senior independent director, ENRC


Is this the worst job in the City?

Can't be far off. As ENRC's new SID, Mr Dalman's role will be to mediate between the natural resources group's independent investors, its board and the three Kazakh oligarchs who call the shots. Mr Dalman emerged as the SID after surviving a coup and following, ahem, a corporate governance review by the board designed to make the company at least look like a functioning PLC.



Right man for the job?

He's a former investment banker, and was a big noise at Commerzbank before that company's retreat from the City. Much has been made of the intrigues and infighting at ENRC, but that shouldn't worry Mr Dalman – he did after all help the Glazer family win out in the battle for control of Manchester United. And the shake-up at ENRC does see independent directors (like him) in the majority at last.



What's his background?

Mr Dalman is a Turkish Cypriot who was on the books at Crystal Palace FC. However, he ultimately chose education (the London School of Economics) and finance over football and even though journeyman footballers are millionaires these days, that was probably wise. He's Premier League City-wise, having had stints in investment banking at Deutsche Bank and Credit Suisse. He's been banker to Daily Express owner Richard Desmond and was on the supervisory board of Deutsche Börse during (one of) its ill-fated bids for the London Stock Exchange.



What's he up to now?

Mr Dalman is one of those City people who has a portfolio to match his portfolio of investments. He set up his own hedge fund company after leaving Commerzbank only to leave to join Toscafund, another hedge fund outfit, as vice chairman. He's on the board of Toscafund's parent too.



Can he pull it off?

Well, if anyone can Mr Dalman can. But Liberum Capital has already published a note questioning how much has really changed, saying confusion still reigns over who actually drives this company. But remember, Ken Olisa, a director who was ousted, has described ENRC as "more Soviet than City". Few would disagree.

Start your day with The Independent, sign up for daily news emails
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs People

Recruitment Genius: HR Manager

£36000 - £45000 per annum: Recruitment Genius: This is an exciting opportunity...

Ashdown Group: HR Manager Shared Services - Uxbridge, - 1 Year contract

£50000 per annum: Ashdown Group: HR Manager Shared Services - Uxbridge, Stock...

Recruitment Genius: Graduate Human Resource Officer and Executive Assistant

Negotiable: Recruitment Genius: This is an exciting opportunity to join one of...

Ashdown Group: HR Assistant (Events business) - Central Manchester - £20K

£18000 - £20000 per annum + Benefits: Ashdown Group: HR Assistant (Events busi...

Day In a Page

General Election 2015: Ed Miliband's unlikely journey from hapless geek to heart-throb

Miliband's unlikely journey from hapless geek to heart-throb

He was meant to be Labour's biggest handicap - but has become almost an asset
Amr Darrag: Ex-Muslim Brotherhood minister in exile still believes Egypt's military regime can be replaced with 'moderate' Islamic rule

'This is the battle of young Egypt for the future of our country'

Ex-Muslim Brotherhood minister Amr Darrag still believes the opposition can rid Egypt of its military regime and replace it with 'moderate' Islamic rule, he tells Robert Fisk
11 best anti-ageing day creams

11 best anti-ageing day creams

Slow down the ageing process with one of these high-performance, hardworking anti-agers
Fishing for votes with Nigel Farage: The Ukip leader shows how he can work an audience as he casts his line to the disaffected of Grimsby

Fishing is on Nigel Farage's mind

Ukip leader casts a line to the disaffected
Who is bombing whom in the Middle East? It's amazing they don't all hit each other

Who is bombing whom in the Middle East?

Robert Fisk untangles the countries and factions
China's influence on fashion: At the top of the game both creatively and commercially

China's influence on fashion

At the top of the game both creatively and commercially
Lord O’Donnell: Former cabinet secretary on the election and life away from the levers of power

The man known as GOD has a reputation for getting the job done

Lord O'Donnell's three principles of rule
Rainbow shades: It's all bright on the night

Rainbow shades

It's all bright on the night
'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

Bread from heaven

Dutch survivors thank RAF for World War II drop that saved millions
Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

How 'the Axe' helped Labour

UK will be 'run for the wealthy and powerful' if Tories retain power
Rare and exclusive video shows the horrific price paid by activists for challenging the rule of jihadist extremists in Syria

The price to be paid for challenging the rule of extremists

A revolution now 'consuming its own children'
Welcome to the world of Megagames

Welcome to the world of Megagames

300 players take part in Watch the Skies! board game in London
'Nymphomaniac' actress reveals what it was really like to star in one of the most explicit films ever

Charlotte Gainsbourg on 'Nymphomaniac'

Starring in one of the most explicit films ever
Robert Fisk in Abu Dhabi: The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers

Robert Fisk in Abu Dhabi

The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers
Vince Cable interview: Charging fees for employment tribunals was 'a very bad move'

Vince Cable exclusive interview

Charging fees for employment tribunals was 'a very bad move'