| NEW YORK, June 27
NEW YORK, June 27 Deutsche Bank AG
has hired a team of oil and gas bankers from
Citigroup Inc, people familiar with the matter said on
The Citigroup team of between eight and ten bankers help
clients with acquisitions and divestitures of leases and
ownership of oil- and gas-rich properties.
Co-heads Tim Saxman and Cliff Adams will lead the team in a
similar role at Deutsche Bank, said the sources, who were not
authorized to speak on the record. Officials from Deutsche and
Citigroup declined to comment.
The move follows Deutsche's hiring last year of Andy Safran,
who was chairman of the energy, power and chemical groups and
vice chairman of global banking at Citigroup, as vice chairman
in its investment banking coverage group.
(Editing by Jeffrey Benkoe)