As Warburg Dillon Read scrambles to replace its defectors, the bank is just as busy contacting management at its recent IPO companies to reassure them that the firm is committed to providing research coverage and banking services going forward.

Word on the Street is that Warburg health care banking head Ben Lorello will make an announcement in the coming week or two about replacements for banker Eric Roberts, sellside analyst Rachel Leheny and six other members of Warburg's health care team who joined Lehman Brothers earlier this month (see BioCentury, April 10).