Deutsche Bank AG hired health-care investment banker Shawn Cross from Wells Fargo & Co., according a person with knowledge of the matter.
Cross was hired in 2010 to lead biopharmaceutical banking at Wells Fargo in San Francisco, according to a press release at the time.
Deal-making in the health-care industry has boomed this year as companies rush to take advantage of cheap financing and increased investor support for deals. Health care has provided some of the largest mergers of the year, including Teva Pharmaceutical Industries Ltd.’s $40.5 billion purchase of Allergan Plc’s generic drugs business and the $28.9 billion merger between health insurers Aetna Inc. and Humana Inc.
Cross couldn’t immediately be reached. Troy Gravitt, a spokesman for Frankfurt-based Deutsche Bank, declined to comment, while Wells Fargo’s Elise Wilkinson didn’t respond to a message seeking comment.
This will be Cross’s second stint at the German lender. He was at Deutsche Bank until 2005 following its acquisition of BT Alex. Brown Inc., where he was a longtime banker, according to Financial Industry Regulatory Authority records. He’s since worked at Thomas Weisel Partners Group Inc., Burrill & Co. and Stanford Group Co., the records show.