Going where the deals are ?
Several high-ranking bankers have left their jobs at major investment banks in the last 13 months amid a surge in U.S. healthcare deal activity to seek better compensation at boutique investment banks as well as to participate in the growth of the industry at biotech companies themselves.
Reuters reports that JPMorgan and Bank of America have both lost senior healthcare investment bankers to boutique investment bank Guggenheim Partners, showing that banks face challenges in being able to pay competitive rates.
'The volume of transactions across healthcare is extreme and so the banker merry-go-round begins', said Paul Heller, the leader of executive recruiting firm Caldwell Partners' financial services practice.
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