Credit Suisse Poaches Five Barclays Health-Care Bankersby
Punit Mehta hired as co-head of Americas health-care banking
Banking team will start in 2016 and be based in New York
Credit Suisse Group AG hired a team of health-care bankers from Barclays Plc led by Punit Mehta as Switzerland’s second-biggest lender seeks to win more business advising on deals.
Mehta will join as a managing director in New York and be co-head of Americas health care along with Michael Muntner, the Zurich-based bank said Tuesday in a statement. Mehta was global head of life sciences banking at Barclays.
Last week, Credit Suisse placed Jim Amine in charge of a new investment-banking unit that’s separate from trading operations. The firm said it seeks to boost investment-banking revenue by $750 million by 2018 from $2.26 billion last year as it increases coverage of corporate clients.
“Health care is an industry in which we expect to grow revenue and market share,” Amine said in the statement. “The bankers we hired have proven track records.”
Jordan Bliss will also join as a managing director from London-based Barclays, focusing on life sciences banking, according to the statement. Thomas Burkly, Connie Chiang and Naeem Merchant were hired as directors and will report to Mehta and Muntner. All will be based in New York and start in the first quarter of 2016, the bank said.
Health-care companies, including biotech, have announced $447.7 billion of merger-and-acquisition deals this year, the highest on record, according to data compiled by Bloomberg. Credit Suisse ranks seventh on advising on such deals, while Barclays is fifth.
(An earlier version of this story corrected the spelling of Muntner.)