Merchant banker Jim Dominguez departs Palm Beach

The Dominguez family have cut their ties with Palm Beach, having bought three decades ago.

Merchant banker Jim Dominguez was among the pinstripe-wearing bigwigs from the emerging financial services industry who invested their hefty success fees in the vacation playground.

Dominguez and wife Suzanne have sold their villa in the dress circle Ocean Road, Susan Rothwell-designed Winten complex.

The three-bedroom 2005-built villa sold through LJ Hooker agents Peter Robinson and Katie Dowdall.

It was their retreat since 2014 when they sold Mandalay, a seven-bedroom home for $6.65 million to Capri fund trader Daniel Droga and his wife Lyndell.

The Florida Road home on 1600 square metres cost $215,000 in 1988.

The neighbourhood was once nicknamed Pill Hill because of the prevalence of Macquarie Street doctors.

The baton change to merchant bankers included Moonrising being bought by Stephen Higgs for a then-record $3 million in 1990.

When Mark Chiba bought Palisades from the now-jailed futures trader Hamish Watson in 2002, he joined four other then-UBS Walburg bankers.

Dominguez, who was the boss at Dominguez Barry Samuel Montagu, helped Sydney get its Harbour tunnel.

This article was first published in the Sunday Telegraph.