JPMorgan hires new co-head for healthcare in EMEA
Send a link to a friend
[January 31, 2014]
By Anjuli Davies
— JPMorgan Chase & Co has hired private equity industry
veteran Cathrin Petty to co-head its healthcare group in Europe, the
Middle East and Africa (EMEA), anticipating a pick up in activity in
Petty, who joins from British private equity firm
Vitruvian Partners where she was a partner, will work alongside
current head Rakesh Patel when she starts next week, according to a
memo seen by Reuters.
A JPMorgan spokeswoman confirmed the contents of the memo.
"Our EMEA investment banking healthcare team has become increasingly
active over the last year with a number of major transactions," Vis
Raghavan, head of EMEA banking at JPMorgan said in the memo."
"To build on this momentum, I am pleased to announce that Cathrin
Petty has joined the firm."
Globally deals in the healthcare sector totaled $203 billion dollars
in 2013, a five percent decline on a year earlier. In Europe, deals
worth $40.9 billion were announced, a 30 percent rise on the year
earlier, data from Thomson Reuters showed.
JPMorgan worked on some of the biggest healthcare deals last year.
It advised Bausch & Lomb alongside Goldman Sachs on its $8.7 billion
sale to Valeant Pharmaceuticals International and Thermo Fisher
alongside Barclays on its $13.6 billion acquisition of Life
[to top of second column]
Prior to Vitruvian Partners, Petty spent 10 years at private
equity firm Apax Partners, eight of which were spent in the global
healthcare team. She also worked at Schroders and interned at
JPMorgan in 1994.
(Reporting by Anjuli Davies; editing by
[© 2014 Thomson Reuters. All rights
Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.