(Adds hiring of Shawn Cross in paragraph 7)
By Olivia Oran
Nov 5 (Reuters) - A pair of Deutsche Bank AG healthcare investment bankers are leaving for JPMorgan Chase & Co a little more than a year after joining the German bank, according to people familiar with the matter.
Peter Zippelius and Andrew Bhak, who co-headed Deutsche Bank’s healthcare services group, had both been hired in April 2014 from Morgan Stanley. They will start at JPMorgan later this month, one of the people said.
Representatives for Deutsche Bank and JPMorgan declined to comment. Zippelius and Bhak could not be reached for comment.
JPMorgan’s former co-head of healthcare services, Ravi Sachdev, left the bank earlier this year for a role at private equity firm Clayton, Dubilier & Rice LLC.
Deutsche Bank was ranked No. 12 for global healthcare M&A this year, up from No. 16 during the same period last year, according to Thomson Reuters data.
This week, the bank advised Shire plc on its $5.9 billion acquisition of rare disease specialist Dyax Corp , as well as healthcare technology and services company MedAssets in its acquisition by private equity firm Pamplona Capital Management for $2.7 billion.
Former Wells Fargo & Co healthcare banker Shawn Cross will join Deutsche Bank’s healthcare group next Monday to head biotechnology coverage, according to a person familiar with the matter. He has worked in the past with biotech and specialty pharmaceutical companies. Cross had previously worked in Deutsche Bank’s healthcare investment banking group from 1997 to 2005.
Deutsche Bank Chief Executive John Cryan announced a radical overhaul in October, splitting its investment banking unit in two and parting ways with some of its top bankers.
Deutsche Bank also said last month it would cut 15,000 jobs, shed assets and streamline its investment bank to improve returns.
The bank announced this week it had hired former Goldman Sachs Group Inc banker Alasdair Warren as its head of corporate and investment banking in Europe. (Reporting by Olivia Oran in New York; Editing Meredith Mazzilli and Andrew Hay)