Morgan Stanley Hires Internet Banker Mehta From Bank of America

Morgan Stanley Hires Internet Banker Mehta From Bank of America

(Bloomberg) -- Morgan Stanley has hired Umi Mehta, an investment banker focused on internet companies, from Bank of America Corp. in Silicon Valley, according to people familiar with the matter.

Mehta has started work as a managing director of global internet at Morgan Stanley’s office in Menlo Park, California, working alongside Kate Claassen as co-head of the group, said the people, who asked to not be identified because the hiring isn’t public.

Representatives for Bank of America and Morgan Stanley declined to comment.

Mehta joined Bank of America in 2010 and was most recently a managing director and head of U.S. internet investment banking, according to his LinkedIn page. Mehta previously worked at Royal Bank of Canada and Bank of Montreal.

He has advised clients including Uber Technologies Inc., AppLovin Corp., Carvana Co., Angie’s List Inc., Chegg Inc., Rent the Runway Inc., Wix.com Ltd. and Zynga Inc., the people said.

Morgan Stanley has advised on some of this year’s biggest internet-related IPOs, including ride-hailing giant Uber, which raised $8.1 billion in May.

More listings are on the way from companies including home fitness start up Peloton Interactive Inc., which filed for an IPO last month.

Online fashion marketplace Poshmark Inc. has delayed its IPO until next year to focus on improving sales, people familiar with the matter said last week.

©2019 Bloomberg L.P.

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