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Eappen tapped as Brigham and Women’s Hospital interim president

Dr. Sunil “Sunny” Eappen
Dr. Sunil “Sunny” EappenCraig F. Walker/Globe Staff


Eappen tapped as Brigham and Women’s Hospital interim president

Mass General Brigham said on Wednesday that Dr. Sunil “Sunny” Eappen will serve as interim president of its Brigham and Women’s Hospital after the departure of its current president, Dr. Elizabeth Nabel, on March 1. Eappen, 54, has been the Boston hospital’s senior vice president of medical affairs and chief medical officer since July 2018. Nabel, Brigham and Women’s president since 2010, is leaving to pursue opportunities in the biotech sector. Mass General Brigham, the state’s largest health system, said a search for Nabel’s permanent successor will take several months. — LARRY EDELMAN


Hill Holiday has a new chief creative officer

Boston ad agency Hill Holliday has recruited Icaro Doria away from rival Havas to be its new chief creative officer. Doria will join IPG-owned Hill Holliday on Feb. 1, filling a position that had been held for a decade by Lance Jensen. At Havas, Doria has been global chief creative officer at Havas Health & You, and he was previously chief creative officer at the company’s Arnold Worldwide group. The Brazilian native has worked with a wide range of well-known brands in his 25-year career, including Coca Cola, Nike, and Diageo. In a note to clients, Hill Holliday chief executive Karen Kaplan described Doria as “one of the most talented, optimistic and creative leaders in the business.” — JON CHESTO



Chase hires new director for venture capital

JPMorgan Chase & Co.’s commercial banking arm has hired Skip Kelly to be managing director for its venture capital work, with a particular focus on strengthening the bank’s relationships with firms that invest in biotechs and other life sciences businesses. Kelly, who is based in Boston, is the latest former Silicon Valley Bank executive to join JPMorgan. In late 2019, the bank announced it was hiring several SVB executives as part of its push to do more with the venture capital and innovation economy. The Boston-based executives that were part of that hiring effort included Pamela Aldsworth and Dave Reich. — JON CHESTO



Morgan Stanley has a banner year

Morgan Stanley traders cashed in during the waning months of 2020 to round off the bank’s best year on record. The division beat analysts’ estimates as fourth-quarter equities revenue surged to cement the bank’s standing as the top stock-trading shop. It joined its closest peers, JPMorgan Chase and Goldman Sachs, in consolidating their standing on the top perch of Wall Street with the pandemic helping secure their lead over smaller rivals. — BLOOMBERG NEWS


Hopes for a busy Easter travel period are dashed

Airlines and hotel operators can write off the Easter travel season, even as COVID-19 vaccination rollouts pick up speed across many parts of the world, according to the largest provider of flight-bookings software. “We don’t see a recovery at Easter, with similar levels to what we saw in 2020— or 20 percent to 25 percent of what the industry had in 2019,” Decius Valmorbida, president of the travel unit at Amadeus IT Group SA, said in an interview. Demand “will not be strong, and the recovery will be more toward summer,” he said. Yet European carriers are becoming fearful that a recovery will arrive too late even for summer, as highly infectious new viral strains prompt people to once again shelve plans. — BLOOMBERG NEWS


Mercedes to offer electric small car in Germany this spring

Mercedes-Benz is taking on one of the most complex industry challenges with the rollout of its battery-powered EQA: selling small electric cars without a big profit squeeze. The brand’s first fully electric compact model will hit European showrooms this spring, flanking the mid-size EQC sport-utility vehicle and the EQV van, the Daimler AG unit said Wednesday. Prices in Germany start at $57,734 and the vehicle offers 302 miles of range. — BLOOMBERG NEWS



Safety regulators looking into ongoing problems with Ford tailgates

US safety regulators are investigating complaints that a Ford pickup truck tailgate recall didn’t fix the problem. The National Highway Traffic Safety Administration says it has 11 complaints that a recall of power tailgates on 300,000 Super Duty pickups failed to rectify the issue. The agency says it also has received reports from Ford about unintended tailgate openings after the recall repairs were made. Ford recalled the F-250, F-350 and F-450 trucks in 2019 because the power tailgates could open while being driven. The defect allowed for the potential of unrestrained cargo tumbling from vehicles. The trucks are from the 2017 through 2020 model years. — ASSOCIATED PRESS


UnitedHealth’s earnings down due to costs of COVID-19 treatment and testing

UnitedHealth’s fourth-quarter earnings tumbled as costs from COVID-19 hit the health insurance provider, but results still easily beat expectations. Health care use rebounded in the final quarter of 2020 after the global pandemic kept people away from doctor offices and surgery centers when it first spread earlier last year. UnitedHealth also said Wednesday that its insurance business spent more in the quarter covering claims for COVID-19 testing and treatment. They accounted for 11 percent of all care activity, not counting prescriptions. That’s up from 6 percent in the third quarter. Medical costs, by far the company’s largest expense, jumped 7 percent to more than $42 billion in the fourth quarter. — ASSOCIATED PRESS



Procter & Gamble’s sales, profit tied to continued demand for toilet paper, detergent

Procter & Gamble boosted its sales and profit outlook on expectations that surging at-home demand for its toilet paper and laundry detergent will continue, even as the rapid pace of growth took a slight dip in the latest quarter. The maker of Charmin, Tide, and other household staples now expects organic revenue to grow as much as 6 percent in fiscal 2021, an increase from the previous outlook of no more than 5 percent. P&G also sees core earnings per share rising as much as 10 percent, according to a statement Wednesday, up from a range of 5 percent to 8 percent. — BLOOMBERG NEWS


Vanguard ramps up fee war in ETFs

Asset managers hoping 2021 might bring some respite to the fee war are in for disappointment, if Vanguard Group’s latest exchange-traded fund is anything to go by. The $7.1 trillion investment giant this week filed plans for the Vanguard Ultra-Short Bond ETF, which will track high-quality fixed-income securities and is expected to begin trading next quarter. The average cost of similar funds is about 0.22 percent, but Vanguard — whose low-cost approach helped it dominate ETF flows last year — is charging less than half that for the new actively managed offering. Its 0.10 percent expense ratio compares with 0.18 percent for the $15.9 billion JPMorgan Ultra-Short Income ETF and 0.35 percent on the $14.4 billion PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT). — BLOOMBERG NEWS