Ken Moelis to Transition to Executive Chairman Role at Moelis & Co

Ken Moelis, the notable founder of the $4.6 billion investment bank Moelis & Co, is set to step down from his role as CEO, transitioning to Executive Chairman as of October 1. Moelis, a seasoned veteran with a career launched at Drexel Burnham Lambert, will continue advising clients in his new role. Stepping into the CEO position is Navid Mahmoodzadegan, co-founder and co-president of Moelis & Co, marking a significant leadership transition. Jeff Raich, another co-founder and co-president, will assume the role of Executive Vice Chairman. Despite the firm's historical highs, the past year has seen a 20% drop in Moelis & Co's stock amidst fluctuating market conditions. Moelis & Co, however, remains a dominant player in the boutique advisory segment, engaging in high-profile deals like Hilton Hotels' $26 billion sale to Blackstone Group. The leadership change reflects years of succession planning, positioning Mahmoodzadegan to continue the firm's trajectory in strategic growth within the media, sports, and entertainment sectors. The firm recently advised on major deals including the acquisition of David Ellison's Skydance Media and the sale of the Phoenix Suns. While the leadership shuffle is a significant move, both Moelis and Mahmoodzadegan express optimism about the firm's future and the ongoing prominence of boutique advisory firms in the M&A industry.