(Bloomberg) -- JPMorgan Chase & Co. has hired Terry-Ann Burrell as a vice chair for investment banking on its health-care team.
Burrell, who will be based in New York, is returning to the biggest US bank this summer after a stint as chief financial officer at Beam Therapeutics Inc., according to a memo sent to staff by Mike Gaito, JPMorgan’s global head of health-care investment banking. She previously worked at JPMorgan for more than a decade through 2019.
A spokeswoman confirmed the contents of the memo but declined to comment further.
Burrell is also on the boards of Rapport Therapeutics Inc. and Recursion Pharmaceuticals Inc. She is leaving Beam Therapeutics from Aug. 9 for the new role at JPMorgan, the company said in a statement earlier. Beam Therapeutics has initiated a search for a successor.
Biotech dealmaking is down about 32% to $52 billion so far this year as major drugmakers take a breather after a flurry of big transactions in the final stretch of 2023. Bankers are optimistic that activity will rebound because Big Pharma still needs to replenish revenue pipelines as once blockbuster drugs face competition from generics.
©2024 Bloomberg L.P.
