Investment bank FBR Capital Markets & Co. has hired four analysts to cover the health care, pharmaceutical, medical devices and diagnostics industries.
FBR in Arlington, Va., is a subsidiary of B. Riley Financial Inc. in Woodland Hills. Along with the four new hires, Riley Senior Analyst Andy D’Silva will join the coverage team.
The new analysts include David Buck, who previously worked as a pharmaceutical analyst at Buckingham Research Group, and who will focus on biopharmaceuticals; George Zavoico, who has more than 10 years of experience as a biotech analyst and will specialize in biotech; Madhu Kumar, who previously worked at Chardan LLC and will focus on therapeutics; and Derrick Li, a co-founder of TPP Healthcare, a boutique advisory firm assisting Western health companies build market access strategies in China, who will focus on health opportunities in Asia.
“B. Riley’s acquisition of FBR earlier this year has expanded our firm’s expertise and enhanced the level of services we provide to our clients,” said Bryant Riley, chief executive of B. Riley Financial, in a statement. “Having these senior level research and banking professionals join us enhances the value we deliver across our overall investment banking group.”
Shares of B. Riley closed Monday up 35 cents, or 2 percent, to $17.40 on the Nasdaq.