Reuters quoted Mr Ahmad al-Sayed the Qatari investment manager holding the fate of Glencore's USD 26 billion takeover of Xstrata in his hands, is known as an aggressive negotiator who relishes the big deal.
The lawyer was formerly general counsel at Qatar Investment Authority the sovereign wealth fund of the gas-rich Gulf state, before taking the helm as chief executive of Qatar Holding in 2008.
Well-liked and trusted by Sheikh Hamad bin Jassim al-Thani, the Qatari prime minister who is also chief executive of QIA and chairman of Qatar Holding, he has significant influence at the top level where decisions are made.
One banker who knows him personally said that "An iron man, and a hedge fund manager in disguise, he can easily kill a deal if it doesn't suit him.” And why not? Don't the Qataris have the money? There could be a compromise but it's ultimately their way or no way."
"We respect him for his smartness but we dreadfully fear him for his aggressiveness. One day you're closing a deal and the next you're flushed away."
Commodities trader Glencore is fighting to save its deal after Qatar Holding, QIA's investment arm which has built a stake of around 11 percent in Xstrata since February, issued a late demand for better terms, forcing them to push back the timing of the deal.
Mr Sayed, who is in his late thirties and studied law and business in Qatar, Paris and Boston, is leading talks with Glencore about the deal.
Mr British deal broker Amanda Staveley who helped orchestrate Abu Dhabi's 2008 investment in Barclays and knows Sayed, describing him as bright, utterly professional and very diligent said that "I'm enjoying watching the soap opera from a distance.”
"Qatar has been using decent strategies lately and I kind of assume he's the man behind it."
Qatar's unexpected intervention an unusually aggressive step for a fund that has hitherto been content with a less muscular role in its portfolio has set off a new round of negotiations, putting in doubt a deal that would create the world's fourth-biggest mining company.
Signs of Qatar's new stance may have been evident in April. Speaking on the sidelines of a Doha conference, Sayed outlined his ambitions for Qatar Holding.
He said that "We should always be active. To be passive is not healthy. Our intention will always be to add as much value as possible and to improve the company we invest in.”
Bankers who have dealt with Sayed all agree that he is a hard negotiator, someone who will cut the deal at the terms he wants.
In the last four to five years, every deal done by Qatar Holding which controls an investment fund of at least USD 100 billion has had his stamp on it, said a Dubai based banker.
Source - Reuters
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