Moelis & Company, the New York-based investment bank, will establish a new office in Houston focusing on clients in the oil and gas industry, the company announced today in an e-mailed statement.The firm is hiring for the effort and expects staff in Houston to grow to between five and 10 bankers in the near term, a spokesperson said. Over time, the office will add headcount as it expands coverage of the energy sector. The firm will hire a mix of senior and junior bankers.
The firm appointed Brady Parish managing director of the office. He will build a new team around him and the office will open in April. Parish comes from Goldman Sachs, where he was managing director in the global natural resources group in Houston. He helped lead the oil and gas investment banking business for the firm, which he left in 2010. Before joining Goldman in 2005, he was a director in the global energy and power group at Merrill Lynch. He has also worked in the energy investment banking group at JPMorgan.
"The establishment of an office in Houston underscores our commitment to service our clients with local knowledge and expertise of the regions in which they operate as well as the strategic importance of the energy, power and broader natural resources industries to Moelis & Company," Ken Moelis, CEO of the firm, said in the statement.
Moelis has been on an expansion spree of late, announcing in January 2011 the opening of new offices in both Dubai and Hong Kong.
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Interesting.
This is awesome news! Thanks for posting Cartwright
Interesting. Wonder how they will fare compared to Greenhill and Evercore.
I wonder how it will be lifestyle wise...
The company has more than 470 employees.
I think Moelis will grow to Lazard's size soon
Yea. I agree. Press release says they will have 10 ppl at that office so the real growth will probably occur in NYC or London. Certainly should be interesting. Our team worked with the Chicago office recently...pretty impressive guys. Big egos though...
Any ideas when this office will open?
Great to see more offices opening in Houston, just more opportunities for those who don't want to live in a closet in NYC.
Moelis i making big moves
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Sucks a lot for Moelis that he left. I work in Houston and don't know much about the office; OGBanker do you know what kind of deals they do? Wonder if the other Goldman guys will leave too.
Moelis Houston Office? (Originally Posted: 08/23/2013)
I know Moelis started its Houston office a couple of years ago, but does anyone have any info on them regarding dealflow, culture, work type, etc? Haven't seen anything about them recently
Pretty much just energy. I can't speak for culture, but from what I understand, the elite boutiques such as Moelis, Lazard, Evercore, etc. are insane sweatshops. I have heard ridiculous stories of hours.
The guy who started the office (Brady Parish) came over from GS but has since left to be head of IR at Apache. Think another GS dude is the only MD over there.
Teddy said is definitely true but I haven't seen that translate into any deal flow of note for laz or Moelis. EVR definitely done very well.
Ex-GS guys is what I heard as well.
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