Guggenheim has lured a senior healthcare banker away from Bank of America Merrill Lynch
- Guggenheim Securities has hired a senior healthcare dealmaker from Bank of America Merrill Lynch.
- Mandar Vadhavkar is joining Guggenheim after more than a decade at Bank of America.
- Guggenheim has been actively hiring to build out its investment-banking platform, and healthcare has been the hottest sector in mergers-and-acquisitions in 2018.
Guggenheim Securities has hired a senior healthcare banker away from Bank of America Merrill Lynch, as dealmaking in the life sciences sector remains red hot.
Mandar Vadhavkar is joining Guggenheim after more than a decade at Bank of America, according to people familiar with the matter.
Bank of America and Guggenheim both declined to comment.
In a year that has seen record deal activity - there's been more than $1.5 trillion worth of mergers and acquisitions to date, according to Bloomberg data - healthcare has been the hottest sector. Recent deals included last week's $64 billion Takeda-Shire takeover as well as the $67 billion Cigna-Express scripts tie-up announced in March.
Senior Wall Street headhunters tell Business Insider hiring for investment bankers specializing in healthcare, as well as consumer/retail and technology, media, and telecommunications, is especially active.
Guggenheim has been working hard to build out its stable of dealmakers who work with healthcare companies. The bank poached Robert Minear from Jefferies as a senior managing director in healthcare investment banking at the beginning of the year.