Shaking it up at H&Q

Hambrecht & Quist is expanding its biotech activities, even as it's going through its second personnel reshuffle on the investment banking side since May, when co-head of investment banking David MacCallum left to head the health care group at Union Bank of Switzerland.

The firm just lost a second banker to UBS, but gained one from PaineWebber. Lori Gonye, who had moved up to replace MacCallum, has rejoined him at UBS, where she will start as a managing director in the life sciences

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