Wells Fargo Hires Credit Suisse’s Londono for Med-Tech Banking

(Bloomberg) -- Wells Fargo & Co. has hired Andres Londono as a managing director covering the medical technology industry in its investment banking group. 

Londono, who joins from Credit Suisse Group AG, will focus primarily on the life-sciences tools and diagnostics sector, and will be based in New York, according to an internal memo Wednesday reviewed by Bloomberg News. He’ll report to John Fowler, Wells Fargo’s head of health-care investment banking. 

“We view health care as a great, solid strong franchise for us and one that’s a growth area so we’ve been continuing to add people,” Fowler said in a phone interview. “Covid has shown the importance of diagnostics and there’s been a lot of innovation that’s come out of it. It’s increasingly important in drug development to have companion diagnostics, so that sector has been taking off. We felt it was important to have a person dedicated to that.”

Wells Fargo has been building out its roster of health-care bankers. In recent months, it’s brought on Karen Flaherty to cover medical-device companies and Kristen Morse to cover emerging health-care technologies. Jim Birchenough moved from the lender’s research group to its investment banking group earlier this year as a vice chairman focused on health care. 

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