Bank of America today announced that it has expanded its Healthcare Investment Banking M&A team with the addition of managing director Dimitri Steinberg. Steinberg is based in New York and reports to Michael McIvor, Head of Healthcare, Consumer and Retail M&A."We are excited to welcome Dimitri to Bank of America," said McIvor, who also serves as Co-Chair of the firm's Global M&A Operating Committee. "His extensive knowledge of the healthcare industry and rich M&A background complement our deep bench of existing talent."
Steinberg comes to Bank of America from HSBC, where he established the firm's Healthcare M&A investment banking practice. In his role, he oversaw strategic planning, hiring and operations for the group as well as client coverage for large-cap pharmaceutical and select specialty pharmaceutical and medical technology clients. Prior to HSBC, Steinberg spent almost a decade at Lazard Freres, where he specialized in M&A across several industry groups, including Healthcare, Power & Utility, and Technology, Media & Telecommunications.
Bank of America also announced that John Lalis has joined Bank of America as a vice president in Healthcare M&A, reporting to McIvor. Lalis joins from Seaview Securities, a boutique investment bank focused on the life sciences industry, where he was a vice president and partner. He began his investment banking career in the Healthcare Group at Lehman Brothers.
Bank of America continues to be recognized as a top provider of healthcare investment banking and advisory services and in 2006, led the market in announced and completed M&A transactions, according to SDC. Underscoring its leadership in providing strategic and financial advice, the firm acted as a financial advisor to the consortium that purchased hospital operator HCA for approximately $33 billion; to Caremark Rx, Inc., in its $27 billion merger with CVS Corporation; and to Holiday Retirement Corporation in its acquisition by Fortress Investment Group LLC. The Firm was sole financial advisor to Health Management Associates, Inc., on a shareholder value-driven recapitalization that returned approximately $2.4 billion to shareholders.
Bank of America (NYSE: BAC) is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit http://www.bankofamerica.com/
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