Former senior Macquarie Capital investment banker and current Reserve Bank of Australia board member Mark Barnaba has picked up another non-executive director type role.

Barnaba is joining professional services firm Ernst & Young as a senior adviser on a part-time basis, and is expected to work from the firm's Perth and Sydney offices. 

"There are few individuals in Australia who can lay claim to a track record like Mark's," EY Managing partner Tony Johnson said late on Friday. 

"While serving as Macquarie Group's Perth-based Head of Global Resources, Macquarie's Western Australian footprint doubled in size and he also chaired the Macquarie Group Asset and Project Finance Lending Business." 

The appointment caps a busy week for Barnaba, who was also named as one of two deputy chairman at Fortescue Metals Group on Wednesday. 

He previously ran Macquarie's Western Australian business and headed its natural resources team. He left Macquarie in June to join the RBA board. 

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Goldman Sachs' equities desk was auctioning almost 2 million shares in skin and hair care company BWX after market on Friday. 

The broker was in the market with 1.95 million BWX shares left over from the retail portion of the company's rights issue. 

The broker was calling for bids from $5.92 a share. The stock last traded at $6.72, while the theoretical ex-rights price was $6.76. 

The retail shortfall bookbuild represented the final step in BWX's $100 million equity raising, which launched last month.

Nearly 70 per cent of new shares were taken up under the retail portion of the one-for-5.4 entitlement offer. 

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An offshore private equity firm has dumped its stake in listed biotech AirXpanders. 

Lines of 12.9 million and 2 million AirXpanders Inc securities changed hands at lunch time on Friday for 68¢ a security. 

Together, the trades were worth 5.1 per cent of the company's shares on issue. 

It's understood the stock was sold by an offshore private equity investor and mostly picked up by an institutional buyer in Melbourne. Fund managers said UBS's equities desk did the trades. 

The trades came only hours after AirXpanders reported earnings for the three months to September 30. 

AirXpanders is a US-based company with breast reconstruction technology for women following mastectomy. 

AirXpanders' securities last closed at 70¢.

The stock had a $203 million market capitalisation, according to Morningstar's DatAnalysis, and listed two years ago. 

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NSW Treasury has called in former Deutsche Bank and Macquarie Capital infrastructure banker Alexander Wendler to oversee the upcoming sale of the state's tollroad development, WestConnex. 

It's understood Wendler has been elevated to "Transaction Director" for the sale, which means he will be spending plenty of time at Treasury and hanging out with Goldman Sachs bankers in coming months. 

He has already been involved with WestConnex and its legal owner Sydney Motorway Corporation as part of his role working for another government department, Transport for NSW. 

Wendler fills the role vacated by former RBS and Moelis banker Leilani Frew, who's leaving NSW Treasury to work for the Commonwealth government. 

"Ms Frew's experience in the NSW Government particularly with regards to major projects will be a great asset to the Commonwealth government and we wish her well in her new position," a Treasury spokesman told Street Talk on Friday. 

It's understood NSW Treasury has also elevated Tim Spencer to chairman of the sale's steering committee. 

Spencer is well known to infrastructure investors and bankers from his roles in Queensland and NSW privatisations over the past decade. He retired from NSW Treasury in August last year.

It comes as NSW Treasury and its team ramp up preparations for WestConnex's sale. 

Treasurer Dominic Perrottet has called for formal expressions of interest by Monday. Bidders expect to receive formal sale documents including an information memorandum in early December. 

NSW is seeking to sell a 51 per cent stake in Sydney Motorway Corporation, which was set up to oversee WestConnex's construction, financing and tolling. Goldman Sachs is running the auction. 

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Queensland coal hopeful Bounty Mining has raised $17 million in a pre-IPO funding round to acquire assets from bankrupt Caledon Coal and mining giant Glencore. 

It's understood the equity raising attracted a handful of institutional investors, who were told Bounty Mining would seek an ASX-listing early in the new year. 

Bounty Mining will use its new funds to buy Cook Colliery from owners Caledon Coal and Blackwater Coal for $31.5 million, and associated assets from Glencore for another $10 million. 

The acquisition included $6.7 million paid in cash up front and $33.3 million deferred over 12-months, according to terms sent to potential investors. It included all mining equipment and infrastructure, including rail. 

Bounty Mining is expected to resume mining at Cook Colliery early next year and told investors would increase production to 1.8 million tonnes in the first 12-months. 

Stockbroker PAC Partners managed the raising. The offer put a $27.1 million equity value on Bounty Mining. 

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