MOVES-Energy banker Hutchinson leaves Barclays for BofA -memo
By Mike Stone
June 1 (Reuters) - Bank of America Corp has hired Brad Hutchinson from Barclays Plc (LSE: BARC.L - news) to co-head its Americas energy investment banking business alongside Oscar Brown, according to an internal memo seen by Reuters.
Brown and Hutchinson worked together for over a decade at Lehman Brothers Holdings Inc and Barclays before Brown moved to Bank of America in 2010.
A Bank of America representatives confirmed the contents of the memo. A Barclays representative did not immediately reply to a request for comment.
When Hutchinson starts in September, he will work with clients in the upstream oil and gas market out of Bank of America's Houston office.
Hutchinson was a managing director and head of the Houston energy investment banking office for Barclays. Former colleagues Michael Cannon, who runs midstream oil and gas at Bank of America, and Chris Getz, a managing director, will be on his team.
The Barclays investment banking franchise, under the leadership of Greg Pipkin, formerly of Lehman Brothers, has been a powerhouse in energy investment banking. Lehman was sold to Barclays in 2008 during the financial crisis.
While at Lehman, Hutchinson advised on Chevron Corp's merger with Texaco Inc in 2000. More recently, under the Barclays banner, Hutchinson worked on Energy XXI Ltd (NasdaqGS: EXXI - news) 's acquisition of EPL Oil & Gas Inc for approximately $2.3 billion.
Hutchinson has also worked on the initial public offerings of BrightSource Energy Inc, Jones Energy (NYSE: JONE - news) and Viper Energy Partners. (Reporting by Mike Stone in New York; Editing by Nick Zieminski)