Cain Bros. & Co., a healthcare investment bank based in New York, named Robert Fraiman Jr. to succeed James Cain as CEO and president, effective Jan. 1, 2010.
Fraiman, 51, joined Cain Bros. from BMO Capital Markets in 2004 as head of its corporate finance group, a role he will continue as chief executive. Cain, 59, will remain on the bank’s executive committee. Dan Cain, who co-founded the bank with his brother, James, will remain its chairman.
Fraiman co-founded the healthcare investment-bank group at Bear, Sterns & Co. before moving to BMO Capital Markets. He earned an MBA from the Columbia Business School.