Morgan Stanley Hires Senior Health-Care Banker David Kostel

(Bloomberg) — Morgan Stanley has hired senior dealmaker David Kostel as the vice chairman of its health-care investment banking group, people familiar with the matter said. 

Kostel, who had previously been global co-head of coverage and global head of health care at UBS Group AG, will join the Wall Street firm next month and will be based in New York, the people said, asking not to be identified discussing confidential information.

Representatives for Morgan Stanley and UBS declined to comment. 

Kostel joined the Swiss bank as part of its takeover of local rival Credit Suisse, where he had been global head of health-care investment banking. He spent more than two decades at Credit Suisse. 

He has advised companies across a range of health sub-sectors including Bayer AG on more than $100 billion worth of deals and CVS Health Corp. on transactions including its $10.6 billion acquisition of Oak Street Health Inc.

While global merger-and-acquisition volumes have so far missed expectations this year, dealmakers expect pockets of the health-care sector to be relatively insulated from the uncertainty around tariffs and the economy that has caused some companies to put transactions on hold.

Morgan Stanley has advised on health-care deals in the past few months including Inari Medical Inc.’s sale to medical device maker Stryker Corp., Walgreens Boots Alliance Inc.’s proposed roughly $10 billion go-private deal and Scorpion Therapeutics Inc.’s sale to Eli Lilly & Co.

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