Standard Chartered has hired the former head of UK mergers and acquisitions at Merrill Lynch as global head of oil and gas advisory amid more takeover activity in the energy sector than any other.

The emerging markets-focused bank has named Kevin Smith as global head of oil and gas corporate advisory based in London, according to a statement. His hire comes as consolidation between Western and Eastern energy companies provides one of the few bright spots in an otherwise barren period for M&A.