US investment bank Jefferies continues its run of infrastructure hires from RBC, recruiting Tom Forrow and Sophie Lindsay as senior vice presidents in its power, utilities and infrastructure team, Inframation understands.
Starting in late April, the former RBC bankers will report to Jefferies’ new global head of power, utilities and infrastructure, Dai Clement.
Inframation reported in January that Jefferies had recruited Dai Clement and Lorna Shearin from RBC, as global and European heads respectively of the power, utilities and infrastructure team.
Forrow joined the Canadian bank as an analyst in 2011, and was promoted to director in December, according to his Linkedin. He worked at Rockpoint Corporate Finance between 2008 and 2011.
Lindsay worked at RBC from 2015, and was also promoted to director in December. She was previously at Deutsche Bank between 2010 and 2014, and PwC from 2008 to 2010.
They are both alumni of New Zealand’s University of Otago.
The previous senior power, utilities and renewables bankers, Hari Chandra in London, John Bills and Kevin Phillips in New York, and Michiel Prompers in Hong Kong, are set to join Cantor Fitzgerald to set up an infrastructure advisory business at the investment bank.
Junior members of the team moved at the same time.
Recent major transactions at RBC under Clement’s tenure include Wren House Infrastructure and OMERS Infrastructure’s acquisition of a minority stakes in Thames Water, and Macquarie’s acquisition of the Green Investment Bank.
Others include CKP and CKI’s acquisition of smart metering firm ista, and Danish pension funds PKA and PFA’s acquisition of a 50% stake in the Walney extension offshore wind farm.
RBC advised on 21 European infrastructure transactions in 2017, and ranked second by deal value in the region at USD 25.6bn of closed deals, according to Inframation data.