Photo by Scott Webb on Unsplash
Citigroup has formed a “super group” of investment bankers, all of whom are focused on deal-making in the healthcare and wellness industries, that will now be led by Chuck Adams.
Adams, a former Partner at Goldman Sachs, will officially be referred to as Vice Chairman and Global Head of the healthcare, consumer & wellness group, which is housed within the bank’s capital markets and advisory unit.
Adams has spent the last 16 years with Goldman Sachs and was most recently the head of West Region Advisory, West Coast Healthcare, and the executive in charge of the bank’s office in LA. He also spent 10 years in healthcare investment banking roles at Morgan Stanley.
In a memo obtained by Reuters, the Co-Heads of Citi’s investment banking unit stated, “Healthcare, Consumer & Wellness will be one of our largest groups in BCMA and represents one of the greatest opportunities for growth.”
Merger and acquisition activity in the healthcare industry surged in the fourth quarter of 2020, with 499 deals, up 33% from the previous quarter.
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