Citigroup has become the latest bank to rebuild its European oil and gas investment banking team, rehiring James Sleeman and naming another senior banker as a global co-head covering the sector.

The move comes as energy deal-making heats up and with both Deutsche Bank and UBS recently moving bankers from the United States to London to bolster their teams.

A person familiar with the matter said Sleeman, who had left for boutique Emerging Edge Capital, would rejoin in September as a managing director covering European oil and gas majors and the Commonwealth of Independent States (CIS) region.

Julian Mylchreest, the bank's head of emerging markets investment banking, will keep that role but has been named global co-head of energy, power and chemicals banking, alongside New York bosses Peter Tague and Andrew Safran.

The appointments follow the recent departure of Julian Vickers and Jim Peterkin to Barclays Capial.

Citigroup declined to comment.

A second person familiar with the matter said Mark Hobbs had recently relocated from UBS's Houston office to London, where a seven-strong team led by David Waring left for boutique Lexicon Partners earlier this year. Deutsche's Michael Hafner has also moved to London, a third person said.

The sector has played host to a flurry of takeover bids in the past month by companies seeking to secure assets before economic recovery sends field prices soaring again. Targets include Emerald Energy Ltd (EMEN.L), Heritage Oil, Addax Petroleum and Venture Production Plc.
(Editing by David Holmes)

Energy Investment Citigroup