Moelis Healthcare/Life Sciences
Moelis has started recruiting summer analysts directly into Healthcare/Life Sciences in addition to the generalist M&A / RX program in NY. Anyone know how strong the group is/culture at the firm?
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I can provide a bit of color. Worked with the various NYC healthcare MDs while I was an analyst there. All solid guys. Friendly, knowledgeable, generally good WLB. I can see they may want people who know more about healthcare technicals as I was mainly knowledgeable about M&A finance stuff given I hadn’t taken a healthcare/sciences course since high school. I think when I was there, all the analysts kinda felt like 1 MD in 1 Hc vertical was kinda tough to work for and we all felt like we had to take one for the team and everyone had to take a turn working on one of that MDs deals. I closed a nice deal with him and thought it was manageable but I can understand why others may not have actively sought to work for him. The good news is that it seems like the MD himself recognized that might not have been the best role for him and now is like the CSO at a major client. Looks like he has a great job and I’m happy for him. Overall, the rest of the team/MDs that I believe are still there are all solid, nice guys to work for in my opinion. Not sure if I have much more color to give you at this time as my info is a few years or so old
Def can say that overall the deal flow is good; though a fair amount of it at the time was with the harder MD but I think Moelis still does well without him. I think Ken has been saying for a while now how excited he is about the HC space and how big the opportunity is for Moelis in that realm and how much he wants to invest in servicing the sector.
How were the exits? VC, any PE?
Curious how it stacks up against the generalist program
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Noooooooooooo
As an update. The Moelis NY HC team has basically disbanded and are rapidly trying to hire new MDs and Mid-level management. Group head became the cfo of a Midwest Fortune 500 company. Guy made up about 40% of dealflow for the group and a lot of his supporting guys left for other groups.
Is this HC services or bio pharma?
Biopharma (life sciences)
do you mind sharing who?
did this happen again? the old life sci group head left a couple years ago to become a cfo but moelis represented them when his company got bought earlier this year
Didn't one of their senior bankers leave for PJS?
That’s one guy but op said the entire group is getting disbanded so are the other hc mds leaving too?
Was a period of time 2 months ago when the life sci group didn’t have a single VP and 1-2 associates. Just so happened to coincide with analyst buyside recruitment and due to Covid many positions were immediate starts. So over the course of a month or so, give or take more than half the group was gone.
How many MDs are left in the group though for lifesci
Not sure, my source is a close friend who was one of the folks who recently departed. But given the brand name and pay structure, I’m sure they can rehire. But will certainly have some growing pains in the next year or so.
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