Fed Governor Adriana Kugler to resign
Investing.com -- Ken Moelis, the current CEO of investment bank Moelis & Co (NYSE:MC), has plans to step down from his position. According to a report published in the Wall Street Journal on Monday, Moelis is expected to assume the role of executive chairman starting from October 1.
Navid Mahmoodzadegan, the co-founder and co-president of the firm, is likely to take over the CEO position after Moelis steps down. The report suggests that this transition has been in the works for some time, with Moelis focusing on preparing the firm for the change.
In a recent interview, Moelis expressed his intention to make this the "smoothest transition ever in the history of Wall Street," acknowledging the difficulty of such a task. He also mentioned his ongoing efforts to train young bankers and maintain low attrition within the firm. Additionally, he emphasized his focus on fostering relationships with clients, rather than solely concentrating on industry league tables.
Moelis, who has his surname prominently displayed on the front door of the firm, stated that he has been working towards this moment for years. This upcoming change in leadership is expected to mark a significant moment in the history of Moelis & Co, a firm established by Ken Moelis himself.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.