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This summer has seen some shuffling of energy investment bankers. In the latest move, longtime Citigroup Inc. banker Greg Sommer is joining Deutsche Bank Securities Inc. as a managing director and head of energy M&A for the Americas based in New York.
Sommer, who earned a bachelor's degree in economics from Bucknell University, spent 13 years at Citi, most recently as managing director and head of energy M&A. His deals over the past six years include advising longtime client Williams Cos. on its $12 billion restructuring plan (including the drop-down of natural gas pipeline and processing assets to Williams Partners LP for $3.5 billion plus 203 million limited partnership units); ConocoPhillips on its $35 billion acquisition of Burlington Resources Inc.; Varco International Inc. on its $2.4 billion sale to National Oilwell Inc.; Todco on its $2.3 billion sale to Hercules Offshore Inc.; and Loews Corp. on its $1.1 billion purchase of Gulf South Pipeline LP from Entergy-Koch LP.
Deutsche Bank has lost its share of energy bankers this summer. Jonathan Cox and Michael Johnson, who most recently worked on Common Resources LLC's sale to Exco Resources Inc. and BG Group plc for $805 million, left for Morgan Stanley, while Tom Barber, Jim DeNaut and Michael Hill are joining Nomura Holdings Inc. Barber and Hill advised Petro-Canada Ltd. on its $15.5 billion sale to Suncor Energy Inc. last year, and Hill advised Devon Energy Corp. on its $7 billion sale of international properties to BP plc earlier this year. Meanwhile, Peter O'Malley, who focuses on Asian natural gas deals, is headed to HSBC Holdings plc.
But Sommer will have some company on Deutsche Bank's energy desk. Earlier in the year, Deutsche Bank added Curt Launer from Sagent Advisors Inc. to advise midstream energy companies and Tim Kisling from UBS to run mergers and acquisitions in the power, utility and midstream energy industries.
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