Credit Suisse has poached a top oil and gas banker from Morgan Stanley.
Brian McCabe will join the Swiss investment bank as co-head of its Americas oil and gas group. Mr. McCabe will be based in Houston and report to Osmar Abib, head of the oil and gas investment banking group. Mr. Abib announced the move in an internal memo obtained by DealBook.
Before making the move, Mr. McCabe was at Morgan Stanley, and has worked on deals including the El Paso Corporation’s $38 billion sale to Kinder Morgan, and the formation of Spectra’s $11 billion master limited partnership. Prior to his time at Morgan Stanley, Mr. McCabe worked at Lazard, as well as DLJ/Credit Suisse.
At Credit Suisse, Mr. McCabe will lead coverage of midstream and master limited partnership deals, which are the fastest growing sector in the oil and gas industry.
Here is the memo from Mr. Abib:
I am pleased to announce that Brian McCabe will rejoin Credit Suisse as a Managing Director and Co-Head of the Americas Oil & Gas group in the Investment Banking Department. He will lead this group along with Tim Perry, who will also retain his responsibilities as Co-Head of our Global Upstream effort. Brian will be based in Houston and report to me. Brian is expected to start in March.
Brian will lead our global client coverage strategy for the Midstream/Master Limited Partnership sector, the most rapidly growing vertical in oil & gas. Craig Klaasmeyer will work closely with Brian in spearheading this important client coverage initiative.
With approximately 20 years of experience working with companies in the oil & gas sector, Brian has advised on numerous significant advisory and financing assignments for clients such as El Paso, Energy Transfer, Enterprise, Oneok, Phillips 66, Spectra and Williams. Most recently he advised El Paso on its sale for USD 38 billion to Kinder Morgan. He also advised Spectra on the USD 11 billion sale of its US pipelines business to Spectra Energy Partners, the pending spin-off of Oneok’s gas utility business, and the divestitures of Express Pipeline and Houston Fuel Oil Terminals.
Brian joins Credit Suisse from Morgan Stanley, where he has been a Managing Director and Co-Head of North American Energy. Brian also previously worked at Lazard and at DLJ/Credit Suisse.
This appointment reaffirms our commitment to further expanding our market leading oil & gas business. Please join me in welcoming Brian and wishing him every success in his new role.
Osmar Abib
