Energy bankers top the pay scale
Where are the best paid energy investment bankers working this year? Lehman and JPMorgan may hold the answer.
The likes of Grant Porter, Lehman's global head of natural resources, William Vereker, Lehman's global co-head of power and head of European natural resources, and Douglas Petno, head of energy investment banking at JPMorgan, are doing rather well for themselves according to an article on Bloomberg.
Energy bankers at the two firms are apparently muscling in on the soaring market for energy deals which was traditionally dominated by market leaders Morgan Stanley and Citigroup.
Vereker helped Lehman win a role in this year's biggest energy deal, advising on the 31bn takeover bid of Spain's Endesa SA by Germany's E.ON AG, for example.
Success comes amidst at global boom in energy and power deals, which were up 76% in the first half of this year, to $313.3bn according to Thomson Financial.
Bloomberg reports energy bankers globally have earned 900m in fees so far in 2006, compared with 1.3bn for the whole of 2005, and says they're displacing telecommunications bankers as the top money makers in M&A.
