Oppenheimer & Co has named a new dedicated global head of healthcare investment banking, filling a post that had been empty for three years as dealmaking in the sector reaches record highs across M&A and the capital markets.

The US investment bank has promoted Marc Cabrera to oversee its 20-strong healthcare team, which includes advisory and research staff. He takes the role vacated by Brian McCarthy, who left in 2012 to join Bank of America Merrill Lynch, where he is co-head of healthcare investment banking for the Americas.