UPDATE: Moelis & Co Hires Liam Beere From UBS For EMEA M&A
21 June 2011 - 10:38PM
Dow Jones News
Moelis & Co. on Tuesday said it has hired Liam Beere from
UBS AG (UBS) to head its mergers-and-acquisitions advisory in
Europe, Middle East and Africa, in the latest blow for UBS after a
rash of departures by other senior bankers.
Moelis said Beere will join Sept. 19 and will be based in London
as a managing director. He had worked for UBS for 19 years, most
recently as global head of M&A.
At Moelis, Beere will become a partner, with equity in the
business, and play a key role in expanding the firm's M&A
activities, said Mark Aedy, head of EMEA investment banking at
Moelis.
"He will be leading the charge on M&A in EMEA, and will be
front and center to make sure we're right on top of M&A
developments," Aedy said.
Moelis, which advises companies on mergers, acquisitions,
restructurings and other transactions, has about 100 people based
in London, of 500 staff globally. It was started by former UBS
investment banking head Ken Moelis in 2007.
Its reputation as one of Wall Street's top boutiques was first
cemented with a series of restructuring advisory roles in the
financial crisis. More recently, it has been climbing the league
tables in M&A advisory, with Dealogic data showing it has
advised on 24 deals so far this year worth $35.5 billion, up from
15 deals worth $9 billion in the same period last year.
Recent deals in Europe include advising Avista Capital Partners,
a part owner of Swiss drugmaker Nycomed A/S, on Nycomed's sale to
Takeda Pharmaceuticals Co. (4502.TO), and giving Norwegian
conglomerate Orkla ASA (ORK.OS) advice on the sale of its Elkem
unit to China National Bluestar Group.
Beere's departure from UBS is the latest in a string of
high-profile resignations. Cary Kochman, who had been co-head of
global M&A with Beere, left for Citigroup Inc. (C) earlier this
month. The moves come as UBS and some of its large banking peers
are cutting bonuses and paying out a larger portion of them in
deferred shares.
A UBS spokesman declined to comment.
Aedy said Moelis is attracting high-caliber people because it
offers them the chance to build out businesses, while having an
equity stake in Moelis' future.
-By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451;
margot.patrick@dowjones.com
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