Written By In recent years, technology companies have taken the world by storm, and investment banks are no exception to this trend. Moelis & Company, an investment bank founded in 2007, is doubling down on its tech division, adding two new managing directors to its team in order to expand its services in the technology sector.
The two new managing directors are Matt Jacobs and Ben Nicholls. Jacobs previously worked at JPMorgan, where he was the head of the technology M&A team, while Nicholls was a senior member of the technology M&A team at Citigroup. According to Moelis, both Jacobs and Nicholls have extensive experience advising clients on technology deals, and will be valuable additions to the firm’s tech team.
Moelis is not the only investment bank looking to expand its tech division. In recent years, many banks have been investing heavily in technology, as the industry has become increasingly important to their bottom line. With more and more companies relying on technology to drive growth, investment banks see tech as a lucrative area for investment.
Moelis has been particularly aggressive in its push to expand its tech division. In addition to hiring Jacobs and Nicholls, the firm has also recently hired a number of other tech bankers, including Will Griffiths, who joined from Goldman Sachs, and Armando Diaz, who joined from Morgan Stanley.
The expansion of Moelis’ tech division comes as the firm has been experiencing strong growth. In its most recent quarterly earnings report, Moelis reported record revenues of $286 million, up 68% from the same period last year. The firm’s tech division was a major contributor to this growth, with tech M&A deals accounting for a significant portion of Moelis’ total M&A activity.
Moelis’ decision to expand its tech division is not without risk. While the tech industry has been growing rapidly in recent years, it is also a highly competitive and rapidly evolving sector. Additionally, the tech sector is notoriously volatile, with many companies experiencing sudden and unexpected swings in their stock prices.
Despite these risks, Moelis appears to be confident in its ability to succeed in the tech industry. The firm’s recent hires suggest that it is committed to building a strong and experienced team of tech bankers, and its strong financial results demonstrate that the firm’s strategy is paying off.
As the tech industry continues to grow and evolve, it is likely that investment banks will continue to invest heavily in the sector. For Moelis, the expansion of its tech division represents a major opportunity to capitalize on this trend and position itself as a leader in the industry.
