Monday, December 5

Moelis appoints Morgan Stanley veteran as managing director

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Moelis & Co said on Monday Morgan Stanley veteran Rick Polhemus had joined the investment bank as a managing director and will advise companies from technology, sustainability and services sectors. Polhemus has worked in investment banking for 25 years, with 11 at Morgan Stanley, covering deals , leveraged buyouts, initial public offerings, debt and equity capital financing and shareholder defense, among other things.

Moelis has been hiring investment bankers at a time corporate dealmaking in the United States has slumped 63%, weighed down by a strong dollar and soaring borrowing costs.

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Last month, the bank hired Igor Sokolovsky from Guggenheim Securities as a managing director in New York to advise clients on mergers and acquisitions (M&A), specializing in the healthcare sector. It also hired John Kimm from Evercore Inc in July to advise on M&As across sectors. (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Vinay Dwivedi)