Wells Fargo expands public finance team

Wells Fargo Securities has added three recruits from Jefferies to its public finance healthcare team.

Patrick McCarthy, Moira Baldwin and Ian Spier have joined the bank.

“I’m pleased to welcome a trio of the industry’s top talent to our growing team,” said Stratford Shields, head of Wells Fargo Securities’ public finance. “As our clients grow and consolidate in the rapidly changing not-for-profit healthcare business, we are now able to provide both financing and strategic advisory services to help them achieve their objectives.”

Patrick McCarthy, a 28-year public finance industry veteran, will join the firm as managing director and co-head of not-for-profit healthcare in early 2019. He previously headed Jefferies’ not-for-profit healthcare group. His predecessor firms include Goldman Sachs, where he served as managing director, and Morgan Stanley. He will report to Shields.

Baldwin and Spier recently joined the firm as directors, having previously served as senior vice presidents in healthcare under the management of McCarthy at Jefferies. Baldwin’s expertise includes children’s hospitals and capital market solutions. She worked at Goldman Sachs prior to Jefferies.

Spier has extensive experience in M&A and capital market transactions on behalf of not-for-profit healthcare systems. He worked at Bank of America prior to Jefferies. Both Baldwin and Spier will be based in New York and report to McCarthy and sector co-head Melissa Bastan.