Aurex Insight: Energy Financial Service

Q2 2019

At A Glance

Welcome to the latest edition of our Energy Insights Energy Financial Services quarterly update. In this issue we will be providing anecdotal market commentary and highlighting notable market moves from the last quarter.

While there have been a number of senior moves in the energy market, Aurex Group’s search engagements throughout the second quarter have been primarily focused on two areas:

1.PIacing mid-level finance professionals into energy portfolio companies

For example, PortCo’s look to hire mid-level professionals to support the CFO in day-to-day corporate finance including modeling, due diligence, reporting and consolidation, as well as commercial activities such as managing external stakeholders and sitting as a member of the deal team.

2.PuIIing Energy M&A VP/Senior Associates from middle market investment banks

Compared to their counterparts at bulge brackets, Associates at established middle market firms may have executed deals from start to finish (originate, structure, close) rather than seeing only a segment of the deal process. This makes them potentially more valuable for Corporate Development, Private Equity, or Advisory roles.

We have witnessed a surge in demand for these profiles within the power, renewables and midstream sectors. Companies are looking to boost their mid-level bench strength but also attract plug-and-play professionals who can operate at a high level without additional training or education (or salary overhead).

The proposition is mutually beneficial for companies and candidates as the former seeks to accomplish as much as possible with the fewest people and younger professionals aim for more commercial exposure, responsibility and faster career development. A smaller, or leaner, team affords candidates broad transactional exposure, so it is worth considering despite potentially lower compensation.

We are still seeing predictable and consistent demand for top Associate-level talent from the majority of Aurex Group’s client base – investment banks, private equity, and operators alike.

For a discussion around recent mandates, compensation or other hiring trends across the upstream, midstream, or energy services sectors, please do not hesitate to get in touch.

Liam King, Head of Energy Financial Services

Recent Market Moves

Banking :

  • Bruno Salas, Vice President, Chemicals Investment Banking, left The Valence Group and joined Barclays in New York.
  • Hank Wu, former Director, Power & Utilities M&A, left Barclays and joined SunTrust in New York.
  • Jim Thalacker, Managing Director, left Millennium Partners and joined BMO in New York to cover the U.S. power and utilities sector.
  • Doug Ramey, Investment Banking Associate, left Kinder Morgan and joined CIBC’s Midstream Energy Infrastructure group in Houston.
  • Richard O’Day, Senior Managing Director, left Credit Suisse and joined CohnReznick Capital’s renewable energy banking team in New York City.
  • Leila Zomorrodian, former Director at Natixis, will be joining DNB’s RBL team as a Director in Houston in July.
  • James Kaiser, Managing Director and Senior Originator of Infrastructure, left HSBC and joined Natixis.
  • Alexander Despo, Associate, left Johnson Rice & Company and joined Houlihan Lokey’s E&P Financial Restructuring Group in Houston.
  • Newell Blair, Vice President, left Osaka Gas USA and joined Whitehall & Co. in New York City.
  • Kathy Jenkins, CFO, left CPPIB and joined IMCO in Toronto.
  • Hans Beekman, former Director, left ING Capital to join Investec in New York to lead the midstream buildout.
  • Tim Formuziewich, Managing Director, Head of Infrastructure, left CPP Investment Board and joined Investment Management Corporation of Ontario in Toronto.
  • Hugh Stewart, Investment Banking Associate, left JP Morgan and joined Lazard in Houston.
  • Lucas Laurel, Vice President, left Wells Fargo’s Energy and Power investment banking team and joined Lazard in Chicago.
  • Cindy Popowich, Vice President and COO, Commodities and Global Markets, left Phillips 66 and joined Macquarie Group in Calgary.
  • Ognjen Rakita, Associate, left Perella Weinberg Partners and joined Moelis & Company in New York.
  • Matthew Craig, Associate, left Wells Fargo and joined Moelis & Company in Houston.
  • John Thorndike, Senior Managing Director, left Moelis & Co and joined Guggenheim Securities in Houston.
  • Martin Serra, former Vice President of M&A, left Credit Suisse in New York.
  • Edward Fanter, Co-Head of Investment Banking, left Deloitte and joined National Bank of Canada in New York.
  • Frank Napolitano, Managing Director, Investment Banking, joined National Bank of Canada in New York City.
  • Craig Lacy, Vice President, Petroleum Engineer, left Lime Rock Resources and joined Seaport Global Holdings in Houston.

Corporate :

  • Douglas Lunn, Corporate Development Consultant, left Catalina Ventures and joined Advanced Energy in Denver.
  • Craig Collins, Chief Operating Officer, left Alta Mesa Resources and Kingfisher Midstream and joined Altus Midstream in Houston, a Permian-to-Gulf Coast midstream corporation.
  • Jason Roe, CEO, left Baker Hughes and joined Avitas Systems, an inspection services solution company, in Houston.
  • Sara Graziano, former Senior Vice President of Corporate Development, plans to leave Vistra Energy Corp. and join BlackRock in a North American power generation strategy role.
  • Brandon Chaudury, Financial Analyst, left Guggenheim and joined Cheneire in Houston.
  • Nick Warren, Corporate Development Associate, left Simmons & Co and joined Clear Creek Midstream in Houston.
  • Thomas Prince, Associate, left EY’s Structured Finance Group and joined Conway MacKenzie in Houston.
  • Sylvia Rasic, Partner on the M&A team, left BMO Financial Group and joined Deloitte in Toronto.
  • Don Kyle, former President, Energy Division, left EnTrans International and joined Gilbert & Pardue Business Advisors as a Director in Houston.
  • Drew Grams, Strategic Advisor, has joined Golden Pass LNG in Houston.
  • Claire Harvey, CEO, left Pine Brook Partners and joined Gryphon Management Company in Houston.
  • Jeff Shoaf, President, left NextEra Energy Services and joined Hudson Energy in Houston.
  • Patrick Coleman, Investment Banking Associate, left Credit Suisse and joined Jefferies in Houston.
  • Thomas Flexon, Director of Asset Optimization and Business Development, left NRG and joined Kindle Energy in Princeton.
  • Lee McFalIs, Chief Operating Officer, left NRG and joined Kindle Energy.
  • Trey Hatcher, Vice President, Finance, left NGP Energy Capital Management and joined Longhorn Midstream.
  • Jack Walter, Finance Associate, left Petrie Partners and joined Lucid Energy Group in Dallas.
  • Kai Ning, former Vice President, M&A/Risk Underwriting and Portfolio Management, Kevin Wash, former Head of Power and Renewable Energy, and Dawn Pasquin, former Chief Risk Officer, all left GE Energy Financial Services.
  • Kirk Edelman, former President & CEO of Siemens Financial Services left the company in April.
  • Mark Eisenhower, Managing Director, left Chesapeake Utilities Corporation and joined Navigant Energy.
  • Brent Wahl, Senior Vice President of Finance, left Macquarie Capital and joined NextDecade Corp.
  • Brett Baucum, Vice President of Finance, left OFS Energy Fund and joined Oil Patch Group in Houston.
  • Scott Lechky, Chief Financial Officer, left Antarctica Capital and joined OYO Solar Inc, a North American solar developer in New York.
  • Robert Schwartz, Head of Commercial US, left NRG and joined OYO Solar Inc in New York.
  • George Bilicic, former Global Head of Power, Energy & Infrastructure, has left Lazard and joined Sempra Energy as Group President.
  • David Stechmann, Corporate Development Associate, left Sumitomo Mitsui and joined Sendero Midstream Partners in Houston.
  • Caroline McGeough, Principal, left Stonepeak Infrastructure Partners and joined Sidewalk Labs in New York to lead the renewal of a Toronto waterfront.
  • Ross Wong, Vice President, Corporate Development, left Credit Suisse and joined Solaris Oilfield Infrastructure in Houston.
  • Walter Weathers, CFO, left Brookfield Asset Management and joined Tally Energy Services in Houston.
  • Alex Hernandez, Corporate Development Associate, left Cowen and Company and joined Thermal Shipping Solutions in San Francisco.
  • Jeffrey Layne, Chief Operating Officer, left King Fisher Midstream and joined Meritage Midstream in Denver.
  • Matthew DeNezza, Chief Financial Officer, left Eclipse Resources Corporation and joined Meritage Midstream in Denver.

Private Equity :

  • Jim Mahoney, Operating Partner, left Novomer Inc, Surface Logix Inc and Prolinx Inc and joined Ara Partners in Boston.
  • Johanna Schmidtke, Principal, left Saudi Aramco and joined Ara Partners in Houston.
  • James Liu, Vice President, Investments, left Evercore and joined Colony HB2 Energy, LLC, an energy investment platform, in Houston.
  • Abhinav Jain, Vice President, left Drill2Frac and joined CSL Capital Management in Houston.
  • Rakesh Kapoor, Operating Partner, joined Edgewater Capital Partners in Cleveland where he will support portfolio companies that have strategic and value creation activities.
  • Jackson Lehr, Operating Partner, Infrastructure, left National Grid and joined Energy Impact Partners, an investment firm that focuses on innovative energy solutions, in New York.
  • Jorge Vargas, Operating Partner, Infrastructure, left Spear Point Energy, where he was Executive Vice President, Head of Origination and Project Finance and joined Energy Impact Partners in New York.
  • Barbara Baumann, current owner of Cross Creek Energy Corporation, joined First Reserve as a Senior Advisor.
  • Paul Wood came out of retirement and joined First Reserve as a Senior Advisor.
  • Alec Helman, Senior Finance Associate, left Aethon Energy and joined Glendale Energy Capital in Houston.
  • Robert “RD” Gauss, Managing Director, left Morgan Stanley and joined Global Infrastructure Partners in New York.
  • Claire Fauquier, Principal, left Corigin Ventures, and joined Highland Capital Partners, in New York City.
  • Tom Murray, former Managing Director of Infrastructure and Debt Investments at Apollo Global Management, joined I Squared Capital.
  • Cedric Lucas, Managing Director, left KKR and joined Goldman Sachs’ West Street Infrastructure Partners in New York.
  • Chris Tuohy, Principal, Energy & Infrastructure, left The Blackstone Group and joined KKR in Houston.
  • Joan Hutchinson, Managing Director, Off-take Advisory for wind and solar projects, left Lincoln Clean Energy and joined Marathon Capital in San Francisco.
  • Cindy Jaggi, Principal, left EnLink Midstream and joined NGP Energy Capital Management in Irving.
  • Adam Bernstein, Managing Director, left New Energy Capital and joined North Sky Capital’s Alliance Strategy in Boston.
  • Sewell Strifler, Vice President, left TPG Sixth Street Partners and joined QL Capital Partners in Houston.
  • Allen Brisch, Senior Director, Project Development and Origination, left Quinbrook Infrastructure Partners and joined Ecoplexus in Houston.
  • Rob Kerr was promoted to COO of the U.S. office at Quinbrook Infrastructure Partners in Houston.
  • Matthew Nicklos, Senior Director, left Quantum Utility Generation and joined Quinbrook Infrastructure Partners in Houston.
  • Richard Carrell, Senior Vice President in Energy Project Finance, and Ric Abel, Energy Executive, left Prudential Capital Group in Dallas.
  • Kevin Walsh, former Head of Power and Renewable Energy, left GE Energy Financial Resources and joined Stonepeak Infrastructure Partners as a Senior Operating Partner in New York.
  • Brady Burgin, Associate, left Jefferies and joined Tailwater Capital in Dallas.
  • Adam Baer, Associate, left Rockland Capital and joined BlackRock’s Energy & Power Infrastructure Group in New York.
  • Erik Savi, Managing Director, Global Head of Infrastructure Debt, left BlackRock and joined The Carlyle Group in New York.
  • Pooja Goyal, Partner and Head of Renewable and Sustainable Energy, left Goldman Sachs and joined The Carlyle Group in New York.

Private Equity & Advisory Team

Liam King

Associate Director

Private Equity & Advisory

liam@aurexgroup

Sophie Rao

Editor in Chief

Lead Research Associate

sally@aurexgroup.com

John McClellan

Partner, Director

john@aurexgroup.com

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