Deutsche Bank bolsters U.S. healthcare IB unit with new exec hires

The logo of Deutsche Bank is seen at its headquarters ahead of the bank's annual general meeting in Frankfurt

(Reuters) – Deutsche Bank AG has hired two new managing directors for its healthcare investment banking team in the United States, according to an internal memo seen by Reuters, as the bank looks to double down on healthcare dealmaking.

Spencer Watts and Helen Oesch, both veterans in the sector, will join the bank from Nomura Holdings Inc and Bank of Montreal, respectively. They will be based in New York.

“We’ve been building out our coverage and capabilities, by hiring senior bankers to strengthen our existing presence in U.S. Healthcare Services & Technology,” Nick Richitt, the lender’s global co-head of healthcare investment banking, said in the memo on Tuesday.

Deutsche has made 10 new hires in the division so far this year, including the appointment of Priyanka Verma, an industry expert who has worked with clients including Thermo Fisher and KKR & Co, as managing director.

Watts, who is joining this month, has previously held roles in the healthcare investment banking division of UBS Group AG, according to his LinkedIn profile.

Oesch is set to join in October and was earlier a director at Credit Suisse for nearly eight years.

The new appointees will report to Richitt.

Deutsche will also hire three associates for the unit who will join over the next few weeks, the bank said.

In recent months, the bank underwrote the initial public offering of Signify Health Inc and advised on the $1.1 billion blank-check deal of mobile medical services provider DocGo.

In June, the bank also worked on the $7 billion merger between health data firms Datavant and Ciox Health.

(Reporting by Niket Nishant and Anirban Sen in Bengaluru; Editing by Vinay Dwivedi)