Oil giant BP has long had an aversion to working with big investment banks.
The company “typically relies on in-house teams or small boutiques for its deal-making,” Dealbook says, but that hasn’t stopped the big boys from giving it a shot.
On Tuesday morning, Mr. Gorman was spotted in the reception area of BP’s headquarters in London.
He was there with Franck Petitgas, Morgan Stanley’s global co-head of investment banking. A BP employee soon led the men through the security barriers and toward the elevators, while DealBook was taken downstairs to the canteen for another meeting.
And BP did work with Goldman Sachs in some capacity after the oil spill. So maybe they’re ready to start working regularly for some bigger fish.