JPMorgan Said to Hire Gary Taylor From Citigroup for Health Role

JPMorgan Chase & Co. hired Gary Taylor from Citigroup Inc. to cover health insurer and hospital stocks as a senior analyst, according to a person familiar with the matter.

Taylor replaces Justin Lake, who left this year for Viking Global Investors, a hedge-fund firm. At Citigroup, Taylor followed hospital companies, said the person, who asked not to be named because the hire hadn’t been announced publicly.

Jessica Francisco, a JPMorgan spokeswoman, confirmed the hire. Sophia Stewart, a Citigroup spokeswoman, said she had no comment.

The health-care industry is being reshaped by 2010’s Patient Protection and Affordable Care Act, also known as Obamacare. The law created millions of new paying customers for health insurers and hospitals, while adding new regulations and taxes. The health insurance industry has also seen a spate of acquisitions, such as UnitedHealth Group Inc.’s $12.8 billion agreement in March to buy Catamaran Corp. and Aetna Inc.’s $35 billion deal this month for Humana Inc.