Demeter Group, a leading boutique investment bank, has announced the recruitment of a new principal, Jani Friedman, to head up the company's newly formed beauty sector, an area that it says will fit will with its existing wine, food and beverage practice. The company said that both practice areas deal in luxury goods with strong margins, growth rates and direct sales, adding that need for both the sectors to be innovation driven, in line with consumer demands, means that they share similar characteristics. The similarities do not end there though. Many ingredients that are used in the food and drink industry are also used in the personal care industry, something that now has even greater emphasis with the huge growth in demand for natural and organic ingredients. Consequently the boundaries between the two areas are becoming less pronounced with new segments such as the cosmeceutical and nutracosmetics leaving some people scratching their heads over which of the two sectors they actually fall into. "We see a growing convergence between the food and beverage sector, with collaborations between these industries becoming more common," said Jeff Menashe, managing partner of Demeter Group. Menahse went on to emphasize that Friedman's appointment would help to develop this collaboration, as well as providing a more comprehensive support system for its clients in the investment world. Friedman has more than 20 years experience in the beauty and fashion world, having most recently worked for Sephora, where she was a divisional merchandising manager for the company's skin care sector. Part of Friedman's role will be work alongside clients in the beauty industry, targeting the investment and development of personal care brands. Her initial role will concern private placements of equity capital for brand owners as well as corporate development advisory brand owners.