Deutsche Bank have announced the appointments of Cliff Adams and Tim Saxman as Managing Directors in the Global Natural Resources Group (NRG) within Investment Banking Coverage and Advisory (IBC&A), part of the Bank’s Corporate Finance division.
Based in Houston, they will report to Greg Sommer, Head of Energy, Americas. Adams and Saxman will join Tad Neafsey as heads of Upstream, Americas coverage, responsible for bolstering Deutsche Bank’s global oil and gas property Acquisition and Divestiture (A&D) capabilities. Victor Barcot has also been hired as a Managing Director in Oil and Gas A&D in Houston to support the Bank’s efforts.
Adams and Saxman will join from Citigroup where they were Global Co-Heads of Acquisition and Divestitures. Adams has worked on all phases of advisory, asset transactions, restructuring, and takeover defense assignments for numerous Independent E&P, Utilities, and Pipeline companies. Before Citigroup he served as a Managing Director at RBC Capital Markets and Head of Global Oil and Gas at Macquarie. He began his career in partnership with Saxman at Petrie Parkman.
Saxman has transaction experience across the energy verticals including E&P, Oilfield Services and Midstream. Before his most recent position with Citigroup he held leadership positions in Bank of America Merrill Lynch’s Global Energy and Power, Acquisitions and Divestitures Investment Banking team where he was employed for nearly 15 years.
Barcot was most recently with HSBC where he was Head of Oil and Gas A&D for the Americas.
'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 & 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'.
These hires are in addition to other senior appointments Deutsche Bank has made in Global NRG, including the appointment of Marc Benton as Head of Energy, EMEA and Bruce MacDiarmid as Head of Utilities and Infrastructure for Asia Pacific.