Deutsche Bank appointed Cliff Adams and Tim Saxman as managing directors in the Global Natural Resources Group’s (NRG) investment banking coverage and advisory (IBC&A) sector, the bank said Aug. 4. The IBC&A sector is part of the Corporate Finance division, the bank added.
Adams and Saxman will head the upstream Americas coverage with Tad Neafsey in Houston, the bank said. They will manage acquisitions and divestitures (A&D), Deutsche Bank noted.
Most recently, Adams and Saxman were global co-heads of A&D at Citigroup Inc. (NYSE: C), the bank said. Prior to that, Adams was a managing director at RBC Capital Markets and head of global oil and gas at Macquarie, the bank added.
He and Saxman began their careers at Petrie Parkman. Saxman also worked, for almost 15 years, at Bank of America Merrill Lynch, on the A&D investment banking team for its Global Energy and Power sector, the bank added.
Deutsche Bank also said it hired Victor Barcot as a managing director in oil and gas A&D, and he was most recently head of oil and gas A&D for HSBC.
“By combining our investment banking coverage and our A&D capabilities, we will enhance our fully-integrated, global oil and gas coverage and advisory teams," said Dan Ward, co-head of Global NRG.
"Tim, Cliff and Victor have proven track records in the upstream oil and gas sector. Their depth of technical expertise in valuing oil and gas and related assets will serve as a significant competitive strength for clients and complement our corporate finance franchise,” he added.
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