BMO taps industry veteran to head part of its U.S. energy team

TORONTO, Sept 9 (Reuters) - Bank of Montreal BMO.TO said
on Wednesday it has tapped Geoff Roberts to lead the U.S.
acquisitions and divestitures practice of its global energy
group.
Roberts, who prior to this ran his own advisory services
firm, is being tasked with a role that will likely involve
strengthening and rebuilding BMO's A&D team in the United
States.
The team facilitates the buying and selling of oil and gas
deposits and carries out the complex engineering and technical
research needed to value the deposits.
The bank's U.S. A&D practice took a hit earlier this year
when Swiss rival UBS AG UBSG.VX poached some 15 of BMO's A&D
bankers, significantly weakening its energy dealmaking team in
the United States. ID:nL1N0WD02N
BMO's investment banking business in the oil and gas sector
has shifted as lower oil prices have slowed dealmaking.
The business now focuses less on initial public offerings
and multibillion-dollar company acquisitions, and more on
advising companies on specific asset acquisitions and sales of
oil and gas deposits, as energy companies hone their portfolios
to focus on core regions and basins.
That has made it crucial for banks to have strong A&D teams
that can value these assets and facilitate deals in an
environment of low energy prices.
BMO said Roberts, a petroleum engineer with more than 30
years of industry experience in acquisitions and divestitures,
will work closely with BMO's energy investment and corporate
banking teams globally, as well as its A&D teams in Calgary and
London.
"Geoff brings tremendous industry experience to this crucial
role in our U.S. oil and gas practice," said Shane Fildes, BMO's
global head of energy in a statement, adding that his addition
to the team boosts BMO's capabilities in the specialized area.