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Morgan Stanley Hires Internet Banker Mehta From Bank of America

(Bloomberg) -- Morgan Stanley has hired Umi Mehta, an investment banker focused on internet companies, from Bank of America Corp. in Silicon Valley, according to people familiar with the matter.

Mehta has started work as a managing director of global internet at Morgan Stanley’s office in Menlo Park, California, working alongside Kate Claassen as co-head of the group, said the people, who asked to not be identified because the hiring isn’t public.

Representatives for Bank of America and Morgan Stanley declined to comment.

Mehta joined Bank of America in 2010 and was most recently a managing director and head of U.S. internet investment banking, according to his LinkedIn page. Mehta previously worked at Royal Bank of Canada and Bank of Montreal.

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He has advised clients including Uber Technologies Inc., AppLovin Corp., Carvana Co., Angie’s List Inc., Chegg Inc., Rent the Runway Inc., Wix.com Ltd. and Zynga Inc., the people said.

Morgan Stanley has advised on some of this year’s biggest internet-related IPOs, including ride-hailing giant Uber, which raised $8.1 billion in May.

More listings are on the way from companies including home fitness start up Peloton Interactive Inc., which filed for an IPO last month.

Online fashion marketplace Poshmark Inc. has delayed its IPO until next year to focus on improving sales, people familiar with the matter said last week.

To contact the reporter on this story: Liana Baker in New York at lbaker75@bloomberg.net

To contact the editors responsible for this story: Daniel Hauck at dhauck1@bloomberg.net, Matthew Monks, Nabila Ahmed

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.