Difference A&D / IB

A&D is like M&A, but for the upstream assets instead of companies or business units. Usually they recruit people with O&G expertise rather than just finance types.

Got it thanks ! Looks like IB to me only asset-level

It's definitely Macquarie.

I wouldn't touch Macquarie's Houston A&D team with a 10 foot pole atm unless you are super desperate

Really ? any insight why ?

and yes, it's MacCap

Like people have said most of the pure A&D bankers are former engineers as the majority of the work is pretty technical.

I know nothing about their culture but Macquarie tends to do smaller deals. You can see their current deals here: http://www.macquarie.com/mgl/com/macquarietristone/mandates.

I'll just add that the majority of A&D deals are all cash, which is different from traditional corporate M&A in which an exchange of equity is often in play.

I might be employed by a large australian bank in houston on the IBD side. It is a small team doing primarily small cap deals. I used to be at a larger bank in houston and left to come here. PM me if you are interested in more information.