UBS Head of European Oil and Gas Hafner Said to Leave Bank

  • Hafner ran energy banking for Europe, Middle East and Africa
  • A number of energy bankers have left jobs as dealmaking slows

UBS Group AG’s head of energy investment banking for Europe, the Middle East and Africa, Michael Hafner, has left the Swiss bank, according to a person familiar with the matter.

Hafner, who joined UBS in 2014 from Deutsche Bank AG, left the bank at the end of August and no replacement has been named for him, the person said, asking not to be identified as the information is private. A representative for UBS declined to comment.

A number of senior energy bankers have switched jobs or left banking as dealmaking in the sector slowed sharply amid a slump in oil prices. Alastair Maxwell, global co-head for energy investment banking at Goldman Sachs Group Inc., retired last month from the U.S. firm, while James Janoskey left Credit Suisse Group AG last year to join JPMorgan Chase & Co. as head of oil and gas investment banking for EMEA.

UBS advised natural gas explorer InterOil Corp. on its sale to Exxon Mobil Corp. in July. Spending on acquisitions in the oil and gas industry is down 52 percent in the last 12 months, according to data compiled by Bloomberg.

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