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I agree.
I went to their site and saw how many MDs they had and nearly fell out of my seat. I think there's like 60 MDs and 150 other relatively senior bankers. I seriously think the firm may need to advise itself on its own restructuring soon. Ken Moelis may have had a decent rep as a banker, but there's no way these 200 dudes can generate $500mm in revs, which is what it would take to make that firm work. They are cruising for a bruising.
OP's point about the bankers "moving around" I'm pretty sure it is an eat what you kill structure. So, the ones unhappy probably aren't good enough to kill anything. So, where are they going to go. I've seen it before. A boutique like this hires a bunch of refugee bankers and half leave or get forced out. Then, the successful ones are carring a lot of the dead weight and there's a lot of in fighting.
I have no insight into the specifics, I must say, but I know enough to be dangerous in terms of the likely long term success they are going to have. It is a high risk strategy.
Also, M&A and Restructuring are two incredibly different things. M&A bankers don't know ANYTHING about truly difficult Restructuring and vice versa. That means they could be in trouble as well.
That said, I'm sure they are all incredibly talented and will pull it off despite my skepticism.
You got it right, they are a top restructuring shop. Looking at the site, it seems like most of the recent hires have been non-M&A bankers. They hired a bunch of capital markets guys. If I am not wrong they only started the restructuring group in 2008 and now it's top 2 or something on the Street.
I think they are profitable now given the success of the restructuring side, but might need to plan for an M&A uptick in the future. I guess they better hire some M&A folks this summer if they want their M&A to be as top notch as their restructuring practice.
Yes, a friend of mine is interning there this summer and chose it over a BB. He said he can get an inside look and if he doesn't like it, leave next year.
I personally think Moelis will pull through in M&A. M&A is the bread and butter of IB and feel they will fix that. if they don't, it seems they will close shop according to me. I have faith in them though...its Ken Moelis
.
Does the firm's performance matter much for an analyst, given that last year Moelis placed unbelievably into megafund PE? I guess their placement will suffer in the long run if they get no deals, but for the next couple of years, doing an analyst stint there seems like a good deal.
"Yes, a friend of mine is interning there this summer and chose it over a BB."
Yea I know someone who chose them over the top BBs. Strange.
http://online.wsj.com/article/SB100014240527023038283045751795810596795…
M&A Advisory on California Pizza Kitchen today
http://www.reuters.com/article/idUSN0711849620100407
New Private Equity Hire
start of something big? Maybe...CPKI is only a 500mil company though.
We will see
We will see
Interesting, is MS really losing its reputation as a top BB??
Morgan Stanley M&A Banker Collins to Join Moelis Boutique
http://www.bloomberg.com/apps/news?pid=20601087&sid=aOteSx2q6_IE&pos=7
lol one hiring doesn't make or break a firm.. remember when Joe Perella took everyone with him? MS did fine after that... surprised Moelis is STILL hiring though. they probably have now hired more employees than Greenhill and Evercore, in less than 3 years.
"Yea I know someone who chose them over the top BBs. Strange."
Different strokes for different folks, but I do not understand why somebody would do that.
Every SA I've spoken with that is going to Moelis had offers at BBs.
It will be interesting to see Moelis. What do you guys think about MOelis as a firm for an analyst though?
By BB do you mean MS/GS or UBS/DB?
Yes...I can tell you that for sure that my friend had an offer at MS/GS and Citi. A person I know full time also chose them over GS Lev Fin and JP morgan.
By GS and JP you mean GS Lev Fin banking assistant and JP Morgan janitor rotational program?
hahaha you obviously are going to work/intern at Moelis. It's a good boutique but not even to the level of Piper Jaffray in terms of deal flow and stability. Their M&A has been doing shitty since 2008. Stop bumping every thread on Moelis by lying about people choosing MoCo over GS/MS. Jesus Christ. Give us a break.
"Yes...I can tell you that for sure that my friend had an offer at MS/GS and Citi. A person I know full time also chose them over GS Lev Fin and JP morgan."
I do not work at any of the firms mentioned, but nobody would do that unless they were legitimately insane. Maybe if Moelis paid analysts 200k it would make sense. Maybe.
No, people who are quite sane and very smart would do it and are doing it. M&A and restructuring blend - level of pitching you do at BBs - bullshit DCM/ECM deals = better experience
a lot of insecurity on these forums...
i personally know someone who took moelis over goldman a few other bb's, and i've been pretty vocal on these boards about how much i think moelis is overrated so i think its pretty clear that "you obviously are going to work/intern at Moelis" doesn't apply to me.
terrible decision in my opinion, but definitely one college students are apparently making.
In twilightgirl's defense, I also know of a friend who took Moelis over MS, Bofa, Citi, HLHZ (I can't think of any others)
but this was for a summer internship. I haven't heard of anyone taking Moelis over a top BB for full time after a round of recruiting.
i know people who also took harris williams over moelis.
Moelis is a good shop, but overrated by college kids. Yes you get to do M&A and restructuring, but it's rare that both are very active - you'll likely be doing more of one or the other in any given time.
They've overhired in my opinion. Their next analyst class is 30+ kids. Their current analyst class is ~20 and they're realy not working very hard.
Considering Moelis is trying to quickly build up their capital markets team to do those "bullshit' DCM/ECM deals, that point isn't really valid. You will be pitching non-stop at Moelis considering they're trying to build a platform in everything.
They have not developed a strong M&A presence, but they have the potential to. We'll see.
You can't judge a firm by what other firms kids turned down. They can easily be exaggerating/lying about other offers. Doesn't mean a thing. I know several Moelis summers who didn't get offers anywhere else and I know kids who didn't get offers to return at their BBs going to Moelis for full-time.
moelis is overrated.
second the overrated but IMO still up there. You will get a pretty good exp in Moelis
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