NEW YORK, Feb 28 (Reuters) - Moelis & Co (MC.N) , opens new tab has hired Stephen Trauber to run its global energy business, with the prolific dealmaker joining as part of a significant expansion of its investment banking capabilities amid record acquisition activity in the oil and gas space.

As well as retaining Trauber, Moelis is also hiring senior dealmakers Muhammad Laghari and Alexander Burpee from Guggenheim Securities, according to a statement to Reuters on Wednesday.

The oil and gas industry in the United States is experiencing a wave of consolidation, as producers seek to increase their scale, drive down costs and secure the best drilling locations. Last year saw record levels of dealmaking among shale companies, with the pattern continuing into 2024.

The hires - as some investment banks have been cutting positions - show an effort by Moelis to tap into this merger boom and build upon its existing expertise in advising energy clients in the Middle East and Europe, including Saudi Aramco (2222.SE) , opens new tab and Abu Dhabi National Oil Co.

Trauber joins Moelis as global head of energy and clean technology, based in Houston. The veteran banker retired from Citigroup (C.N) , opens new tab in 2022, where he was co-head of its energy investment bank, having advised on more than $700 billion of energy transactions over a 35-year career, per the statement.

"Steve is a recognized leader in the industry who has played a key role in many of the energy sector's landmark transactions," said Navid Mahmoodzadegan, co-founder of Moelis.

Laghari and Burpee will join Moelis as managing directors effective March 4, and will bolster the bank's ability to advise both oil and gas producers, as well as midstream companies, the statement said.

Their hiring, first reported by Reuters in December, will see the duo reunite with Trauber, having been at Citigroup before joining Guggenheim in 2022. Both have more than 15 years of energy experience, the statement added.

The push into the U.S. oil and gas sector comes after Moelis formed its Clean Technology Group in September, which focuses on advising companies on deals in the energy transition space.

https://www.reuters.com/business/energy/moelis-hires-energy-dealmaker-trauber-oil-gas-ma-push-2024-02-28/