RBC Hires BofA’s Raj Bhatia for Health-Care Investment Banking

Royal Bank of Canada hired Bank of America Corp.’s Rajat Bhatia as a managing director in the health-care investment-banking group, according to people with knowledge of the matter.

Bhatia, who’s based in New York, starts at RBC Capital Markets next month and will report to Andrew Callaway, one of the people said, asking not to be identified because the move hasn’t been announced publicly. He will focus on health-care information technology and digital health transactions.

Representatives of Bank of America and RBC declined to comment, as did Bhatia.

Bhatia joined BofA in 2011, according to Finra records. He has ...