Morgan Stanley Hires Senior Health-Care Banker David Kostel

Morgan Stanley has hired senior dealmaker David Kostel as the vice chairman of its health-care investment banking group, people familiar with the matter said.

Kostel, who had previously been global co-head of coverage and global head of health care at UBS Group AG, will join the Wall Street firm next month and will be based in New York, the people said, asking not to be identified discussing confidential information.

Representatives for Morgan Stanley and UBS declined to comment.

Kostel joined the Swiss bank as part of its takeover of local rival Credit Suisse, where he had been global head ...