Deutsche Bank has hired two managing directors to head the healthcare investment banking unit in the United States. The two, Spencer Watts and Helen Oesch, will be based in New York.
The details were revealed by Reuters, citing an internal memo by the investment bank. According to the memo, the new hiring was done to ensure the bank doubled down on the healthcare sector.
Extensive Experience
Both Watts and Oesch, who will be joining the firm in August and October respectively, have extensive experience in the sector. Watts previously worked at Nomura Holdings Inc, while Oesch previously worked at the Bank of Montreal.
According to Watt’s LinkedIn profile, he held a position in the healthcare investment banking division at UBS Group AG. In addition, Oesch used to serve as a director at Credit Suisse, a position he held for almost eight years. The two will be working under Nick Richitt.
“We’ve been building out our coverage and capabilities by hiring senior bankers to strengthen our existing presence in U.S. Healthcare Services & Technology,” Richitt, the lender’s global co-head of healthcare investment banking, said in the memo.
Deutsche Bank’s Recent Hiring Spree
Deutsche Bank has been looking to expand its Healthcare investment banking division. This year alone, the firm has appointed ten new individuals to various positions in the division. Priyanka Verma, a renowned expert in the field who has worked with firms like Thermo Fisher and KKR & Co, was recently appointed as managing director.
The bank is also expected to hire three more associates for the unit in the coming weeks. This unit has been rapidly growing, necessitating the expansion of personnel. Deutsche Bank was recently involved in the IPO of Signify Health, a $1.1 Billion deal for DocGo medical service provider and a $7 billion merger between Ciox Health and Datavant firms.
Other Deutsche bank units have also been doing well. Recently, the firm hired five individuals from UBS who will serve in the Swiss-based private banking unit for wealthy clients in Britain and Northern Europe. Deutsche Bank has been actively involved in operations in Europe. In May, Deutsche Bank appointed Stephane Gruffat as the new head of Equity Capital Markets in the EMEA region.
In the U.S., Deutsche Bank signed a partnership deal with Fiserv, a fintech and financial service firm based in the United States. The deal led to the launch of a joint venture firm.
