Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo & Company, has announced the following new hires to its Government & Institutional Banking Division: Patrick McCarthy, Moira Baldwin and Ian Spier. Each join from Jefferies LLC and will specialize in Wells Fargo’s healthcare division within Public Finance.

“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. A graduate of Lake Forest College, McCarthy will be based in New York. He will report to Shields.

Moira Baldwin and Ian Spier recently joined the firm as Directors. They previously served as Senior Vice Presidents in healthcare under the management of McCarthy at Jefferies. Baldwin, whose advanced expertise includes children’s hospitals and capital market solutions, attended Penn State Smeal College of Business, where she earned an MBA. She worked at Goldman Sachs prior to Jefferies. Spier, a graduate of Wake Forest University, 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.  

“I’m thrilled to broaden our team’s scope of services for our clients,” said Bastan. “Patrick, Moira and Ian are proven leaders who will help our clients prepare for opportunities ahead.”