By Pamela Barbaglia
LONDON (Reuters) – Credit Suisse has hired a senior Berenberg analyst to lead its EMEA healthcare investment banking franchise in a bid to revamp the unit after a series of scandals at the lender and a leadership overhaul, according to a memo seen by Reuters.
The Swiss lender has appointed Scott Bardo as co-head of healthcare in EMEA to gain a share of the lucrative healthcare market which has seen investment banks earn more than $13 billion in global fees in 2021, according to data from Refinitiv.
Credit Suisse, which faced the abrupt departure of Chairman Antonio Horta-Osorio on Monday, has also bolstered its healthcare team in New York after veteran banker Leo Reif – head of global healthcare operations – defected to Jefferies last year.
Bardo will be based in London and will report to Maarten Swart, who is responsible for consumer, retail, real estate and healthcare in the EMEA region. He previously worked at Credit Suisse between 2005 and 2010 as part of its European healthcare equity research team.
He will focus on medical technologies, healthcare services and diagnostics and will work closely with Friedrich von Schwedler who co-leads the healthcare franchise and serves pharmaceutical and biotech clients.
In New York, Credit Suisse hired Joel Thompson of Moelis to focus on medical technologies, life science tools and diagnostics, as well as former SCYNEXIS CFO Eric Francois to cover biotechnology and former Centerview banker Mark Filenbaum to handle health services.
(Reporting by Pamela Barbaglia; Editing by Kirsten Donovan)