BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group, announced it has hired of a team of four healthcare investment bankers in New York and Boston.
They include: Michael Neuberger, Managing Director, formerly of Jefferies & Co., who will lead the Healthcare Group; Annette Grimaldi, Managing Director, who will lead the life sciences practice, Vice President Kristen Morse and Analyst Lee Incandela.
BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE, TSX: BMO), announced it has hired of a team of four healthcare investment bankers in New York and Boston.
Michael Neuberger, Managing Director, will lead the Healthcare Group, which will focus on the life sciences, medical technology and healthcare services industries. A Wall Street veteran with more than 25 years of experience in investment banking, Neuberger joins BMO from Jefferies & Co. in Boston, where he managed its global healthcare group while driving its medical technology practice.
Also joining the BMO healthcare team is Annette Grimaldi, Managing Director, a 20-year Wall Street veteran based in New York, who will lead the life sciences practice. Vice President Kristen Morse and Analyst Lee Incandela join the team and will be based in Boston.
“Through these hires, BMO Capital Markets has significantly increased its commitment to the healthcare sector,” said Dominic Petito, Co-Head, U.S. Investment & Corporate Banking, BMO Capital Markets. “Mike Neuberger and Annette Grimaldi, along with the entire team, have the experience and industry knowledge to guide our clients through the current challenges presented by both the economic landscape and the political climate.”
With healthcare as one of the largest global industries, BMO Capital Markets anticipates the following near-term developments:
– The new healthcare environment will require companies to be very
flexible and focus on reducing costs and improving efficacy.
– Traditional sources of capital for these companies will all but dry
up, as venture capital and private equity firms will allocate capital
judiciously to the sector going forward.
– Growth-oriented public biotechnology and medical technology companies
will require creative strategic and financial solutions as they
pursue increased shareholder value.
“With capital markets rebounding and healthcare reform on the horizon, we expect the need for capital, financial advice and other investment and corporate banking services to grow, and we see significant growth opportunities for our Healthcare practice,” said Neuberger.
As part of BMO’s commitment to the healthcare sector, BMO Capital Markets Equity Research sponsors an annual healthcare conference, which, in 2009, showcased 80 leading public and growth-oriented private companies. The banking team welcomed nearly 200 industry professionals and private equity investors to the event in New York, which also attracted more than 250 institutional investors.
About the BMO Capital Markets Healthcare Group
BMO’s Healthcare team averages more than 15 years of experience working with large and mid-cap healthcare companies, giving BMO Capital Markets specialized industry knowledge as well as the backing of a full-service financial institution. The team offers expertise in mergers & acquisitions, equity capital markets (IPOs, follow-on offerings, PIPEs, Private placements), leveraged finance, debt capital markets, loan products, treasury management, and derivatives. For more information visit, www.bmocm.com/industry/us/healthcare/.
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American financial services provider, with over 2,200 employees operating in 14 North American offices and 27 worldwide, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US $359 billion total assets and more than 36,000 employees as at October 31, 2009.