Oppenheimer & Co., a unit of Oppenheimer Holdings (NYSE:OPY), has hired a new life sciences team, led by Michael Margolis, to join the firm's healthcare investment banking group.
Mr. Margolis will serve as managing director and co-head of healthcare investment banking along with Marc Cabrera, who leads the healthcare services and digital health team.
Mr. Margolis brings to Oppenheimer over two decades of investment banking experience in the life sciences sectors. Most recently, he was head of healthcare investment banking at Roth Capital Partners.
Mr. Margolis is joined by Warren Dunnavant II, managing director of healthcare investment banking, who also joins Oppenheimer from Roth, where he previously served as a managing director in healthcare investment banking.
"As Big Pharma continues to deal with patent expirations, we see strong tailwinds for the life sciences sector," Rob Lowenthal, head of investment banking at Oppenheimer, said in a statement.
Over the next five years, global biotech revenue is estimated to grow to over $300-billion, he said. “This fundamental growth trend will drive new company and capital formation across life sciences. With the addition of Michael and his team, Oppenheimer's healthcare investment banking effort is well- positioned for continued success."
Mr. Margolis said that he looks forward to providing established and emerging growth life sciences companies with industry leading advice. “With the full support of the Oppenheimer franchise, our team will be well-positioned to help clients achieve their financing and strategic objectives."