LONDON Jan 31 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 the sector.
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 totalled $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
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 Technologies.
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.