Ken Moelis to step down as CEO of Moelis & Co - WSJ 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.

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Ken Moelis to step down as CEO of his investment bank, WSJ reports (Reuters) -Ken Moelis is planning to step down as chief executive officer of his investment bank Moelis & Co (NYSE:MC), he told the Wall Street Journal in an interview on Monday. Co-founder and co-president Navid Mahmoodzadegan is likely to be the next CEO, while Moelis will take on the executive chairman role on October 1, according to the report. The leadership transition would mark a significant milestone for the bank, which has been led solely by Moelis since its founding in 2007. Moelis, who has worked as an investment banker for more than 40 years, is one of the most respected names on Wall Street. He was once a banker to current U.S. President Donald Trump and played a key role as a senior executive at UBS. His firm is also among a select group of pure-play investment banks, dedicated primarily to offering advice instead of lending or trading. Succession at firms closely tied to their founding CEO can be tricky because of their personal influence. But Ken Moelis said he expects to pull off the "smoothest transition ever in the history of Wall Street", the WSJ reported. The bank did not immediately respond to a Reuters request for comment.

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