- Bank of America Merrill Lynch has hired a senior energy investment banker from Citigroup.
- Jerry Schretter is joining Bank of America as co-head of energy investment banking in the Americas, according to an internal memo seen by Business Insider.
- Additionally, Anya Weaving, a PhD in energy mergers and acquisitions in London, is moving to New York with a new role as vice president of global natural resources, according to the memo.
Bank of America Merrill Lynch has recruited a senior investment banker from Citigroup to lead energy transactions from the bank’s New York office.
Jerry Schretter, who was previously managing director and co-head of upstream energy banking at Citi, is joining Bank of America and co-head of energy investment banking in the Americas, according to an internal memo seen by Business Insider.
Schretter, a 25-year industry veteran, will co-lead the Americas business with Brad Hutchinson, who joined Barclays in 2015 and is based in Houston, according to the note from Julian Mylchreest, global head of investment banking in the natural resources.
A Citigroup spokeswoman declined to comment.
Additionally, Anya Weaving, a PhD in energy mergers and acquisitions in London, is moving to New York with a new role as vice president of global natural resources.
“The addition of Jerry and Anya to our Americas energy practice reflects the significant momentum we are seeing in this space as we continue to win key mandates and further grow our market share through transactions. such as the recently announced $10.5 billion sale of BHP’s U.S. shale business to BP,” Mylchreest wrote in the memo.
JPMorgan and Citi lead the global investment banking fee rankings in energy and natural sources in 2017 with 8.3% and 5.7% market share, respectively, in the business of 11 billion, according to Dealogic. Bank of America ranked 6th with a 4.5% share.