Investment bank UBS has sent two of its resources coverage bankers to Perth, to try to claim a bigger share of natural resources sector deals involving Western Australia’s miners.
Steve Drummond, an executive director in the bank’s Sydney office, is headed west to become UBS’ head of natural resources for Perth, and will also retain coverage of some non-Perth ECM clients.
Taki Dermedgoglou, a director in UBS’ natural resources team in Melbourne, will also head back to his hometown Perth. UBS’ local investment banking bosses, Kelvin Barry and Richard Sleijpen, told staff about the moves this week. “Steve and Taki bring complementary experience and client relationships intended to grow the breadth and depth of our coverage of Natural Resources clients in Perth,” Barry and Sleijpen said.The big Perth corporates include the likes of South32, Northern Star, IGO, Liontown and Sandfire Resources.
Calvin O’Shaughnessy, in Sydney, remains UBS’ head of natural resources for APAC, while Melbourne’s Calum Crozier is head of metals and mining ANZ.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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