Moelis makes more from M&A as revenues, profits and pay all rise

 
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NEWLY-LISTED investment bank Moelis last night reported that first-quarter revenues were up 91 per cent on last year to a record $114.5m (£67.5m).

Net income rose to $22.7m, from just over $700,000 in the same quarter last year.

Moelis said it made revenues from 110 clients in the period, up from 97 a year ago.

Staff pay and benefits at the firm rose 66 per cent to $70.4m.

“These results demonstrate the growing demand for unconflicted advisory services and the power of delivering globally integrated advice to clients,” said boss and biggest shareholder Ken Moelis.

The firm listed in New York with a market capitalisation of $1.3bn last month.

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