JEFFERIES Financial Group has appointed Gideon Volschenk from Standard Chartered to lead its metals and mining banking team across Europe, the Middle East and Africa, Bloomberg News reported, citing people familiar with the matter.
Volschenk, who will be based in London, is expected to join the US investment bank in late summer. He will report to Jefferies’ global co-heads of metals and mining, Christoph Hinder and Michael Willoughby, the newswire said. Representatives for both Jefferies and Standard Chartered declined to comment.
Volschenk spent the past seven years at Standard Chartered, where he helped run its metals and mining coverage team. Before that he spent nearly two decades at Rothschild & Co, said Bloomberg.
The appointment comes as dealmaking in the sector accelerates.
The value of mergers and acquisitions targeting metals and mining companies has risen more than 50% this year to around $37bn, according to Bloomberg data. Last week, Equinox Gold agreed to acquire Canada’s Orla Mining for approximately $5.1bn in the latest in a series of gold sector transactions.
Jefferies has been building out its metals and mining capabilities. Last year it acquired PacificOne Capital, a boutique investment bank specialising in the sector.
