Dec. 5 (Bloomberg) -- Lazard Ltd., the biggest non-bank merger adviser, hired energy investment banker Mark Renton from Citigroup Inc. to boost market share in oil and gas takeovers, said two people with knowledge of the matter.
Renton plans to join Lazard in the new year, according to the people, who spoke on condition of anonymity because the matter is private. Renton, who will be based in New York, most recently was a vice chairman in Citigroup’s energy investment- banking unit and previously served as co-head of the public sector group and head of Asia-Pacific investment banking.
Lazard aims to boost fees from the oil and gas industry after mostly missing out on a takeover boom. In 2010, when the industry announced a record $290 billion in mergers, Lazard worked on $1.79 billion of them, according to data compiled by Bloomberg. That made the Hamilton, Bermuda-based firm the 30th- biggest adviser, compared with its No. 10 ranking overall.
Renton’s deals include advising Varco International Inc. on its 2005 sale to oilfield equipment maker National Oilwell Inc. for $2.4 billion, according to Corporate Control Alert, an industry newsletter.
Mark Costiglio, a spokesman for New York-based Citigroup, and Lazard’s Judi Frost Mackey declined to comment.
Renton leaves Citigroup after investment-banking boss Raymond J. McGuire shook up the firm’s energy operations. McGuire hired Stephen Trauber from UBS AG as global head of energy in September 2010 and the bank hired 50 people this year as client demand increased, Trauber said in June. Citigroup is the fifth-biggest oil and gas adviser so far this year, according to Bloomberg data.
--With assistance from Cathy Chan in Hong Kong. Editors: Peter Eichenbaum, Kevin Miller
To contact the reporters on this story: Donal Griffin in New York at Dgriffin10@bloomberg.net; Zachary Mider in New York at firstname.lastname@example.org
To contact the editors responsible for this story: David Scheer at email@example.com; Jennifer Sondag at firstname.lastname@example.org