Deutsche Bank has promoted two co-heads of life sciences to lead and expand its healthcare investment banking division following a staff departure and as it seeks to boost its advisory role in the sector.

Pete Meyers and Michael Cohen, who began their new roles this week, are the co-heads of healthcare investment banking for the Americas. Meyers works out of New York and Cohen is based in San Francisco. Their brief includes life sciences, medical devices, health care services, pharmaceuticals and biotechnology sectors.