Wells Fargo makes a key healthcare investment banking hire

With all of the noise surrounding the U.S. election, Wells Fargo has been happy to step out of the spotlight and let the furor over its recent scandals die down a bit. Meanwhile, it has been quietly, yet steadily, building out its investment banking division in the U.S. by making hires, with a focus on hot areas such as technology and software research, consumer and retail, and healthcare.

The latest is Keith Barry, who joined Wells Fargo’s healthcare investment banking group earlier this month as managing director based in San Francisco focusing on life science tools, diagnostics and medical technology after more than a decade working in a similar capacity at rival Citi.

Barry joined Citi in 2006 after spending around a year as co-founder and principal of Medical Capital Advisors, his own boutique investment bank focus on private placements for the medical-device industry

In October, Wells Fargo made another key addition to its healthcare investment group, bringing on John Teasley as a managing director after he was previously a senior vice president in healthcare banking at CapStar Bank.

That same month, it poached Tim King from Deutsche Bank’s consumer and retail investment banking team and Philip Winslow from Credit Suisse to lead its software research and economics division.

Previously Wells Fargo had been taking a more aggressive recruitment strategy for the build-out of its investment bank, but for the most part it has been replaced by a more selective approach this year. Instead, much of the focus has been on hiring for risk management and compliance,

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