Moelis Restructuring Banker Derrough Moves to Jefferies
Thoughts on how this will impact the two firms?
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Why dont you throw it into gpt and find out
Probably a positive for Jeff, and a negative for Moe.
Controversial take here woah
ill bite. had friends at moe CSA and derrough was pretty much a legend in the firm, ppl not even in rx and not in ny knew about him too. that being said, i think it will be hard pressed for jefferies to win any real debtor mandates given their rx history. derrough is probably getting a massive comp package for this and in return jefferies may see uptick in 1L/2L etc mandates instead of doing UCC. the biggest factor here will probably be how many moelis MD's he can bring w/ him to jeff- most of the moelis rx team came from jeff with him at the group's start and if they follow him back it would be a large diff compared to if only he goes. moelis is established enough that it will survive one person leaving
I was curious about the pay package he probably received to move - if you had to guess, how big was it?
I would guess bigger than his pay package at moelis probably
Heard that they've been close to 70% debtor mandates.
Yes they are over indexed to debtor right now due to the nature of how integrated CSA is with rest of coverage. They are trying to change that to be more balanced
Can confirm - my understanding is debtor mandates are better anyways as they pay higher fees.
Its a little weird where JEF does much more capital markets activity which historically limits the ability to do some rx deals given conflicts
But they can probably find more to do now Id guess
from one MM bucket shop churning 200mm EV deals to another MM bucket shop churning 200mm EV deals.
yawn.
let me know when chieftains from PJT are moving to CVP and vice versa
Noted - will keep you updated for such moves. GL with FT recruiting!
how do the chieftains taste buddy
Someone is insecure they got rejected.
moelis will go out of business
bet you’d work there for like 200k
Very interesting given he seemed very invested in the firm as well (he interviewed me for my SA Superday and called me abt my offer). Seems like Moelis didn't match and let him walk.
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