Moelis reveals $35m cash pot for bankers

Michael Bow
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MOELIS & Company, the boutique investment bank founded by Wall Street veteran Ken Moelis, yesterday unveiled a $35m (£23.4m) cash payout bonanza for its top managers and owners.

The firm, which has a London office by St Paul’s Churchyard, has made the one-off cash distribution to its managing directors, who between them own 85 per cent of the company, after a successful year advising on some of the world’s biggest deals.

One of the bank’s major backers, Japanese bank Sumitomo Mitsui Banking Corporation, is also understood to be in line for a payout.

It is thought the cash distribution could become an annual event for bank as the company aims to retain key staff and attract top talent.

The firm is hamstrung in rewarding staff because their ownership stakes cannot be traded in secondary markets like equity. The company, which is not publicly traded, has long avoided a listing.

The payout comes after a bumper year for the bank’s dealmaking activities. It advised Heinz on its $28bn sale to Warren Buffett and NYSE Euronext’s sale to IntercontinentalExchange.