Everyone's interviewing with...Moelis & Co.
If you're looking for a new junior M&A job in London, you could do worse than trying Moelis & Co. Insiders and recruiters say the boutique is hiring heavily.
"We're interviewing and hiring at all levels," says one junior banker at Moelis in London. "We're very busy and hiring massively and struggling with the number of desks we can fit on the floor. I alone have probably interviewed 25 or 30 people in the past couple of months."
London M&A recruiters confirm the rush. "There's a lot going at Moelis & Co.," says one, speaking off the record. "It's almost like they're trying to find people wherever they can."
Insiders say the hiring spree is the result of growth rather than exits. Although several of Moelis' London associates are understood to have left for private equity funds, juniors at the firm say the departures were "standard" for associate classes and that many of those who left have already been replaced with recruits from rival boutiques, banks or the Big Four accounting firms. One of the new hires is Tiffany Plant, an associate from boutique Bryan Garnier & Co., who previously worked for Lazard.
Moelis declined to comment on the number of people it's hiring. A spokeperson said: “We are actively looking for talent as we are continuing to grow in the EMEA region.”
Moelis operates generalist rather than sector specific teams. so new joiners will need experience of executing deals across all industry areas. Last month, Moelis & Co. founder Ken Moelis told Financial News he wouldn't be averse to doubling headcount globally. Previously, Moelis said it's better to hire bankers who are "early in their career" and are keen to work collaboratively in complex situations instead of seasoned bankers who are mostly interested in their existing clients.
Moelis has a reputation for paying reasonably well, and London analysts say this summer's bonuses were a pleasant surprise with many at100% or more of salaries. However, Moelis is also known for its particularly gruellng working hours, which are one reason why juniors leave.
"The path to MD at Moelis - as at all banks - is incredibly hard," says another associate. "Some people just get tired of it and move to more relaxed jobs. A few people just go back to their home countries."
Have a story or comment you’d like to share? Contact: email@example.com