The veteran Morgan Stanley banker Lars Andersson is reportedly leaving the firm to strike out on his own.
That’s according to the Financial Times’ Arash Massoudi, who reports that Andersson, who advised Monsanto on its $66 billion deal for Bayer in September, will launch his own boutique bank.
The new firm will focus on life sciences and tech, according to the report.
Andersson had been a vice chairman of investment banking at Morgan Stanley, based in New York.
Boutique firms have been increasingly stealing business from their global rivals.
Boutiques have advised on major deals this year, including Softbank’s $32 billion deal for ARM Holdings, Abbott Labs’ $25 billion deal for St. Jude Medical, Pfizer’s $14 billion deal for Medivation, and Verizon’s $4.8 billion deal for Yahoo.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.