Lazard Houston vs. Moelis Houston IBD SA 2020
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Just from what I’ve read and heard, Lazard has been on the decline while Moelis has gained significant traction in the space. Both firms run solid RX platforms, but Moelis has historically had a better group in NY. Houston rx groups are mainly just NY groups relocated. Also, you should double check to see if either group runs the rx in house. I believe Lazard Houston historically has just used NY for the work as opposed to doing it in Houston.
Have friends in both groups and if I were going through recruiting right now, I'd choose Moelis, hands down.
Both are solid shops, but as mentioned above, the momentum and overall outlook of the two groups couldn't be more different. Also, can confirm that Moelis runs their Energy restructurings out of Houston.
PM if you want to talk further.
Wasn't a member of the Lazard Houston team, but have worked with them into the wee hours on a few things and got to know the team and what they're all about. Only positive things to say. They work hard but seem to enjoy working together (no small feat), and the senior leadership in that group is strong and respected.
Moelis. Just look at the differences in deal flow
Agree with the posters above for the most part. Would definitely take Moelis over Lazard in Houston if I had to choose between the two.
Agree with Moelis. That deal would be a nice bullet point on the resume:
"$1T Initial Public Offering for Saudi Aramco (closed)"
Is Moelis still underwriting the Aramco IPO? Read a few articles saying Aramco selected their bankers but didn't see Moelis. I was under the impression they were the lead book runner, has that changed?
That was the case back in August (Bloomberg had reported Moelis & Lazard were being selected) but per WSJ article from September they list the following:
JPMorgan Chase & Co. Morgan Stanley Goldman Sachs Group Inc. Bank of America Merrill Lynch Citigroup Inc., HSBC Holdings HSBC Credit Suisse Group AG And two "domestic investment banks"
https://www.wsj.com/articles/big-u-s-banks-crowd-into-aramco-ipo-115682…
Moelis is the lead financial advisor to Aramco for the IPO, but they not underwriting it (they're a pure advisory shop). So, they're sitting on the side of the table with Aramco and helped them choose the underwriting group (among many other things I'm sure).
Theyre not underwriting it, they have some advisory role on it along with one of the other EBs. Doubt its being run out of the Houston office given every other bank is doing it from their London office.
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