Business

Deutsche Bank hires Citi dealmaker to beef up U.S. healthcare investment banking – memo

Deutsche Bank AG (DBKGn.DE) has hired Jorge Barreiro from Citigroup Inc (C.N) as the managing director for its U.S. healthcare investment banking team.

As part of his new role, Barreiro will focus on the bank’s coverage of digital and healthcare-focused technology companies, according to the memo sent by Nick Richitt, the global co-head of Healthcare Investment Banking at the bank.

A Deutsche Bank spokesman confirmed the contents of the memo.

Barreiro will be based in New York and start in his new role in November. Barreiro, who spent more than a decade at Citi, recently led Clover Health’s (CLOV.O) public listing and advised Nordic Capital on its acquisition of Inovalon Holdings Inc (INOV.O).

Barreiro will report to Richitt in his new role.

The appointment comes a month after Deutsche Bank hired industry veterans Spencer Watts and Helen Oesch from Nomura Holdings Inc (8604.T) and Bank of Montreal (BMO.TO), respectively, as managing directors of the U.S. healthcare investment banking team.

Deutsche Bank has hired 10 senior executives to this division so far this year, including the appointment of Priyanka Verma, an industry expert who has worked with clients such as Thermo Fisher (TMO.N) and KKR & Co (KKR.N).