Jacques Nasser, chairman-elect of the world’s largest mining company, BHP Billiton, likes to collect watches and is a mergers and acquisitions banker. Sounds like that other deal-hungry horologist, Brian Gilbertson, who helped create BHP Billiton. And like Gilbertson, Nasser can be brutal. Dubbed “Jac the Knife” from his cost cutting during 33 years at Ford Motor Company, he drove acquisitions while CEO. It’ll be interesting to see which skill Nasser uses most at BHP Billiton: a nose for a deal or more cost-cutting? BHP Billiton has a potential US$40m war chest and is tipped to generate $20bn in cash flow this year. So with the diversified mining sector hotting up Nasser could empower group CEO Marius Kloppers to lead a fresh round of sectoral consolidation. Nasser was appointed a BHP Billiton board member in 2006. He’s fluent in Arabic, Spanish, Portuguese and English. Nasser will replace Don Argus, who is leaving BHP Billiton’s board at its year-end.

LIFE OF JACQUES
HE was CEO of Ford from 1999 to 2001, during which time he aggressively diversified its business. After losses of more than $1bn, he was replaced. In 2002, Nasser led the $238m purchase by One Equity Partners of Polaroid, which he then sold for $426m in 2005. He joined BHP Billiton’s board in 2006. He’s on the international advisory board of Allianz, Europe’s largest insurer by market value. Born in Lebanon, he was raised in Melbourne.

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