Credit SuisseGroup AG appointed David Kostel and Punit Mehta global co-heads ofhealth care investment banking, Reuters reported July 13, citing an internalmemo.

The move follows efforts by the bank to expand its presencein the health care sector and to compensate for the of Stuart Smith, its previousglobal head of health care, according to the report. Since 2015,the Swiss lender has been recruiting experienced health care bankers, most of whomare centered on the life sciences industry, Reuters noted.

Kostel was most recently Credit Suisse's head of health careM&A, while Mehta was co-head of Americas health care. Both are based in NewYork.