- The Find: In this difficult economic climate, how did brand new investment bank Moelis & Co. grow into a successful 150 person firm over the last 15 months? In this podcast, founder Kenneth D. Moelis explains how he did it.
- The Source: Knowledge@Wharton from the Wharton Business School.
The podcast begins with a discussion of the current financial crisis and Moelis's predictions for the immediate future, but then launches into a discussion of the firm's business model, which Moelis characterizes as "no business model" and "no product du jour." Instead, at Moelis, all eyes are trained on genuinely serving the client. As Moelis declares: "the client will make you successful." In a world of 20,000 employee strong investment banks and bankers flogged by endless reviews, targets and bonuses, it's a radical (if not new fangled) idea, and one that seems to be working, even amid the wreckage of the financial industry.
The podcast offers many more insights on the firm's future plans (Show me someone with a five-year plan and I'll show you a fool), recruiting (Forget smarts, it's the investment banker that cares the most who wins), and moving into emerging markets, among other topics.
The Question: What, if anything, is keeping you optimistic through this extraordinarily difficult period?