(Reuters) – Citigroup Inc appointed Chuck Adams, a former partner at Goldman Sachs Group Inc, to lead a newly formed “super group” of investment bankers to focus on healthcare and wellness sectors, according to a memo seen by Reuters.
Adams will join Citi’s banking, capital markets and advisory (BCMA) unit as vice chairman and global head of the super group, which will include its existing healthcare and consumer and retail franchises, the memo showed on Wednesday.
“Healthcare, Consumer & Wellness will be one of our largest groups in BCMA and represents one of the greatest opportunities for growth,” according to the memo from co-heads of Citi’s investment banking unit.
The healthcare sector, unlike other industries, has been largely immune to the disruptions caused by the pandemic and is likely to see a wave of acquisitions from cash-rich companies in the coming years.
Chuck joins from Goldman Sachs, where he was a partner for over 10 years in his 16 years with the company. He was most recently head of West Region Advisory, West Coast Healthcare, and head of the Los Angeles Office.
Chuck spent 10 years at Morgan Stanley, where he focused on healthcare investment banking.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D’Silva)
