April 15, 2020 / 3:39 PM / 4 months ago

Moelis hires former Lazard banker Renton for oil and gas team: memo

NEW YORK (Reuters) - Moelis & Co (MC.N) has hired veteran oil and gas banker Mark Renton to work in its energy team, according to a memo seen by Reuters, the contents of which were confirmed by a spokeswoman.

Based in New York as of this week, Renton joined Moelis from fellow boutique investment bank Lazard Ltd (LAZ.N). In a career spanning more than 30 years, Renton has also held senior roles at Citigroup Inc (C.N).

Renton has primarily focused on oil and gas producers and companies in the oilfield services space, the memo added.

The hiring of Renton is Moelis’ second in recent weeks of bankers with backgrounds in oil and gas, after Dennis Cornell joined from Morgan Stanley (MS.N).

It comes at a time of significant upheaval in the energy sector, which is battling dual supply-and-demand shocks. U.S. benchmark crude slid below $20 a barrel on Wednesday, at one point breaching the 18-year low that prices touched in March.

Reporting by David French; Editing by Steve Orlofsky

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