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NEW YORK - Moelis & Company (NYSE: NYSE:MC), an esteemed global independent investment bank, has announced the internal promotion of Christopher Callesano as its new Chief Financial Officer, effective March 31, 2025. The current CFO, Joseph Simon, is set to depart after a notable 15-year service with the firm and will transition to a CFO role at Wachtell, Lipton, Rosen & Katz.
Christopher Callesano, who has been a part of Moelis since 2010, currently holds the position of Managing Director, Principal Accounting Officer, and Corporate Controller. His extensive 25-year background in finance and accounting has seen him play a significant role in establishing the financial and accounting infrastructure that supported the firm’s considerable growth, evidenced by its impressive 39.75% revenue growth and industry-leading 92.41% gross profit margin. Callesano’s tenure at Moelis has prepared him to take over the financial leadership from Simon, with whom he has worked closely for nearly 15 years. InvestingPro analysis reveals multiple positive indicators for Moelis & Company, including strong financial health metrics and growth potential. Subscribers can access detailed insights and 8 additional ProTips about the company’s performance.
Ken Moelis, founder and CEO, expressed gratitude towards Simon for his pivotal contributions to the firm’s development and public company evolution. He also praised Callesano’s deep financial expertise and his familiarity with the company’s operations and culture. Moelis underscored the firm’s confidence in Callesano’s abilities to further its growth strategy and enhance client and shareholder services. According to InvestingPro data, five analysts have recently revised their earnings estimates upward for the upcoming period, suggesting strong confidence in the company’s trajectory. The company’s shares currently trade at a premium valuation with a P/E ratio of 36.4x.
Callesano himself expressed enthusiasm for his new responsibility and acknowledged the support from both Ken Moelis and Joseph Simon. He emphasized his commitment to advancing the firm’s strong foundation and leading the financial team into the next growth phase.
Before his time at Moelis, Callesano held significant roles at NASDAQ OMX as Senior Managing Director of Financial Reporting and Policy, and at Merrill Lynch as Director of Corporate Reporting. An alumnus of Penn State University with a B.S. in Accounting, Callesano also earned an M.B.A. from the Stern (AS:PBHP) School of Business at New York University and is a Certified Public Accountant.
Moelis & Company is known for delivering strategic advice and solutions to a diverse client base, including corporations, governments, and financial sponsors. The firm operates from 23 locations worldwide, offering services in mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters.
This leadership transition is based on a press release statement from Moelis & Company.
In other recent news, Moelis & Company reported a significant increase in its financial performance for the fourth quarter and the full year ending December 31, 2024. The firm announced fourth-quarter revenues of $438.7 million, a 104% rise from the previous year, and full-year GAAP revenues of $1,194.5 million, with adjusted revenues slightly higher at $1,201.5 million, marking a 40% increase. Moelis also raised its quarterly dividend by 8% to $0.65 per share, reflecting its strong financial health and commitment to shareholder returns. Additionally, Keefe, Bruyette & Woods raised its price target for Moelis to $92, up from $86, maintaining an Outperform rating due to the company’s robust revenue figures and favorable compensation ratios. The investment firm also awarded its CEO, Ken Moelis, a $25 million retention grant to ensure leadership continuity, with the units vesting in 2029. In corporate governance news, board member John Allison announced his retirement, ending a decade-long tenure with the company. These developments highlight Moelis & Company’s ongoing strategic efforts and financial achievements.
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