Wells Taps Former Goldman Banker to Run Pipeline, Refinery Group

Veteran energy deal maker Michael Casey is joining Wells Fargo & Co. from Goldman Sachs Group Inc. to run its advisory group for pipeline operators and refiners, according to a person familiar with the matter.

(Bloomberg) — Veteran energy deal maker Michael Casey is joining Wells Fargo & Co. from Goldman Sachs Group Inc. to run its advisory group for pipeline operators and refiners, according to a person familiar with the matter.

Casey will join Wells Fargo as head of midstream and downstream in the San Francisco-based lender’s energy and power group, said the person, who asked to not be identified because the matter isn’t public.

He will be based in Houston and report to Aaron Smith, head of energy and power, the person added. He joined Goldman Sachs in 2017 after more than 18 years at Citigroup Inc. He was previously a managing director and head of midstream at Goldman Sachs.

A representative for Wells Fargo confirmed the hire while a representative for Goldman Sachs declined to comment.

The move comes amid a pickup in energy mergers and acquisitions, as cash-flush oil and gas firms look to consolidate to cut costs and add scale. Oneok Inc. agreed to buy Magellan Midstream Partners LP for $18.8 billion last month in one of the biggest energy pipeline deals in years.

Wells Fargo, the fourth-largest US bank, has been aggressively hiring investment bankers to bolster its presence on Wall Street under Chief Executive Officer Charlie Scharf, recruiting bankers this year from Bank of America Corp. and Morgan Stanley.

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