Energy IB - London
Who are the top Oil and Gas bankers in London?
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One of my mates works at Evercore and says that deal flow is pretty good but complains that one of the newer associates is harsh (as in a pompous nasty ass who is oblivious to his actions/words) which makes the work environment hard
Interesting - who else besides Evercore?
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Speaking as someone who works in oil and gas banking in London... Jefferies, Lambert Energy Advisory, Houlihan Lokey come to mind as some of the top players.
Thanks! Any idea who leads O&G coverage at GS in London?
That is very North Sea upstream focused…virtually non existent otherwise when compared to the other banks.
Don’t agree with this comment based on my experience.
Besides, North Sea is the most active area today in terms of deal flow outside of the US, where processes are largely ran by US offices. So the top bankers in London will be ones that have significant North Sea exposure.
Citi
Who leads the coverage at Citi? Shreyas Bordias left some time ago
O&G without a balance sheet is pretty pointless
What?
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Well - all large BBs have bailed on net zero carbon alliance; will ramp up funding to carbon intensive O&G projects
https://www.bnnbloomberg.ca/investing/commodities/2025/01/07/jpmorgan-q…
Shell and BP have pulled back from prioritizing clean energy, with Shell even going as far as selling off all its renewable projects.
So both BBs and Energy companies are aligned then. They will prioritize traditional O&G
The opportunity cost associated with BBs basing their lending criteria around Net Zero ideology has clearly reached a tipping point. Zero tangible financial benefit in wearing the shackles of the NZBA, simply brownie points.
Likewise for actual O&G producers we are seeing a re-calibration of strategy, with many hitting the brakes (or at least taking the foot off the accelerator) in terms of low-carbon exposure. As BPs relative share price performance has shown, an accelerated pivot into renewables, which continue to produce relatively poor returns compared to O&G, is not viewed favourably by the market.
Entire energy industry is experiencing a reality-check.
GS, MS, BofA, Citi, Barclays, Evercore, Nomura Greentech, Macquarie
Who is leading coverage (MDs) at GS, BAML, Barclays and Citi?
James Sleeman is leading the BofA O&G and Maria Garijo Del Cura runs Renewables
Strong deal flow at BofA NET team (Natural Resources & Energy Transition), modelling heavy team (M&A never touches their model), does the majority of M&A execution on its own as M&A team only gets involved if its a sell-side strictly for process work.
The team also has very strong exits but hours are the longest at BofA alongside FIG.
BARC O&G: Michael Powell, Energy Transition (of which O&G is a sub-group): Rafa Abati
Greentech doesn't cover O&G
Any insights into PJT or Rothschild teams?
Both are shit; got no deal flow
DB has just hired a new Energy MD - will soon be a top player
Not in O&G
How is GS?
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I know TD has a P&U team that does some O&G but prob mostly financing
JPM, Citi are strongest here. Barclays pretty strong too.
Naturally, BBs will overperform relative to other sectors in Power/Energy/O&G etc due to the ability to leverage their balance sheets to win mandates.
Citi EMEA O&G is led by Rajat from HSBC. Any idea who the staffer or VP is in that team?
Who is the staffer at BofA NET in London? Help a sister please
BofA has a centralised staffing system; it's the same for 6 teams - recently got a new staffer for those 6 teams, as it changes every 1 year. Not sure why it's relevant for u to know who the staffer is?
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