Lazard Hires Cecil For Energy Arm

February 24, 2012

Bermuda-based Lazard Ltd. hired David Cecil, a former Houston-based banker at Bank of Nova Scotia, to expand its advisory effort for oil and gas companies, the Bloomberg financial news service reported yesterday [Feb. 23].

Mr. Cecil recently left Scotia and plans to join Lazard later this year, said a source who spoke on condition of anonymity. Mr. Cecil was co-head of the Scotia Waterous investment-banking unit in the US, according to a profile that previously appeared on Scotia’s website.

Mr. Cecil is at least the second senior banker that Lazard, the largest independent merger adviser, wooed to its energy advisory group this year, with Mark Renton, a former vice chairman at Citigroup Inc., joining this month. Mr. Cecil was among the bankers who advised on the biggest oil exploration and production deal of 2011, BHP Billiton Ltd.’s $12.1 billion acquisition of Petrohawk Energy Corp., according to “The Deal” magazine.

In 2010 and 2011, when the oil and gas industry announced a record $557.3 billion of mergers, Lazard worked on $7.7 billion of them, according to data compiled by Bloomberg. That put the Hamilton, Bermuda-based firm in 34th place on those types of deals, compared with its No. 10 ranking overall, the data show.

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