Anyone notice how Moelis in Houston poached a ton of seniors recently from Citi?
Most notably brought Trauber out of retirement to head their energy group, poached Citi’s prior head of upstream, seems like 4-5 more MD’s came with as well as a handful of Directors as well.
Pretty interesting to see Moelis expanding their Energy group this rapidly, will be cool to see how this plays out.
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Based on the highest ranked content on WSO, there's no direct mention of Moelis Houston becoming a "Citi 2.0" or about Moelis poaching a ton of seniors from Citi, including bringing Trauber out of retirement to head their energy group. However, it's interesting to speculate on the strategic moves within the Houston energy banking scene, as firms often aim to strengthen their teams by attracting top talent from competitors.
The context does highlight Moelis's presence in the Houston market and their efforts in restructuring mandates within the energy sector, suggesting they have been active in building out their practice. It mentions that Moelis has been winning a lot of restructuring mandates in the industry, which could be a strategic move to bolster their energy group. This aligns with the broader trend of investment banks in Houston adjusting their strategies and teams in response to the evolving energy market dynamics.
While the specific scenario of Moelis poaching senior bankers from Citi, including Trauber, is not directly mentioned in the provided context, the overall competitive and dynamic nature of the Houston investment banking scene, especially within the energy sector, is evident. Firms like Moelis expanding rapidly in this space could indeed lead to significant shifts in market positioning and influence how deals are approached and executed in the energy sector moving forward.
Sources: Houston Investment Banking 2019, Personal Experience with Houston Energy IBD - Thoughts on Industry Outlook? (Long Post), What's going on in Citi Houston??, Personal Experience with Houston Energy IBD - Thoughts on Industry Outlook? (Long Post), Citi Houston - Thoughts?
Michael Jameson is still at the Citi and midstream drove the fees historically at Citi. Trauber has been washed for years.
Don't think Trauber "retired" per se. He was let go following an HR incident.
Moelis has a ton of cash so they've been on a hiring spree across all their groups. Ultimately, Moelis cannot compete with the JPMs and RBCs of the world so this won't end well.
WallStreetOasis.com please IP ban this user - the comments from this guy are repeatedly low quality and so off base..and he’s started threads openly admitting he’s been fired from a few banks
I don't think I've broken any rules so not sure why a ban would be warranted. I'm just reporting what is publicly available from FINRA and what I've heard from friends at Citi.
It's unfortunate how Trauber was treated by Citi, but I don't think that changes the fact that it's an uphill climb competing against banks that have access to clients and information given their balance sheet. If I said anything inaccurate, please correct me.
This is simply untrue about Trauber. Idk even why you'd post this; this doesn't help your career or anything to just make stuff up. You really need e-clout that much from random college undergrads who don't know better?
If FINRA is releasing false information, they are liable for defamation…
Which part is untrue? You can literally see the disclosure related to his departure on FINRA brokercheck
There's a major brain drain from Citi as many directors/VPs left the cleantech group to other banks. Same thing in energy in Houston and Trauber is the icing on the cake. People saying Trauber is washed up have no idea what they are talking about.
Legit Q—why will it work at Moelis when it didn’t at Gugg?
Not instigating, genuinely curious about what people think.
Ummm the answer is in this thread....Trauber....
So the thesis is that Trauber is going to take market share away from the top BBs + RBC without a balance sheet relationship with clients which has become one of the key dynamics of the last 5 years.
Then outcompete the established presence of Evercore and Jefferies from a boutique angle.
And the MDs who couldn’t generate meaningful business on their own at Gugg will start generating business on their own at Moe because Trauber is at the helm.
Has Hiring Trauber and the ex Citi team made any difference? I dont see them on any deals
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