By Andres Gonzalez
LONDON (Reuters) - Investment bank Lazard (NYSE:LAZ) Ltd has appointed veteran healthcare dealmaker Michele Colocci as vice chairman and managing director, aiming to boost the growth of its healthcare advisory, according to a company announcement.
Colocci, former chairman of mergers and acquisitions at Morgan Stanley, where he also held positions as global co-head of healthcare investment banking and deputy head of investment banking for Europe, is set to join the firm in June.
He will be based in London and take over a recently created global position.
In his new role, Colocci will be part of Lazard's healthcare franchise, led by David Gluckman and overseen in Europe by Jean-Louis Girodolle and Cyrus Kapadia.
"Michele's experience as a trusted advisor to clients will be tremendously valuable as we continue to invest in our significant European business," said Lazard´s CEO Peter R. Orszag.
The healthcare sector remains a key player in dealmaking, accounting for 10.2% of total deals in 2024, according to LSEG data.
Deal activity within the sector is anticipated to remain robust, driven by the rising demand for services and drugs from an ageing population, as well as the thriving market for weight-loss medications.
Pharma companies are spending billions to increase the production of new weight-loss drugs, giving contract development and manufacturing organisations (CDMOs) a big boost.
In February, Novo Holdings said it would buy Catalent (NYSE:CTLT), a key manufacturing subcontractor, for $16.5 billion to boost the output of its popular obesity drug Wegovy.
Lazard has been involved in some of the sector's largest transactions, including Vertex’s $4.9 billion acquisition of Alpine Immune Sciences (NASDAQ:ALPN), Galderma's IPO, and Biogen (NASDAQ:BIIB)'s $7.3 billion acquisition of Reata Pharmaceuticals (NASDAQ:RETA).