Roderick Rivera, Wyatt Ritchie and David Price. The hiring is part of the firm’s plan to expand direct lending to healthcare services companies, according to Ray Minella, director of investment banking and debt capital markets. Jefferies also expanded the lending capabilities of Jefferies Finance. That combination should help Jefferies capture a larger slice of the healthcare lending business as such companies have increased their use of debt capital in recent months, he said
The investment bank plucked Ritchie and Rivera from CIBC World Markets, where both worked in the healthcare group. Both will work in New York. Price left Bear Stearns and will be based in California. All three will report to Minella.
The healthcare group previously had four managing directors. Minella said he doesn’t plan on adding any more. “I wouldn’t rule anything out,” he added. “But our intention is to fill in the group underneath them with a mixture of internal resources and selective hiring from outside.”
Minella said the bank has wanted to expand its business with healthcare services companies and pointed to Price’s work in equity offerings and Ritchie and Rivera’s experience in high-yield, especially, for hiring them.