Just Dubai It

by Derek Loosvelt | January 18, 2011

So says Kenny Moelis & Co., which just broke ground in Dubai, making the emirates home to the investment bank's seventh outpost across the globe.

Moelis & Co., which counts Dubai World's $23.5 bilion restructuring among its deals, is no stranger to the Middle East -- a region that's still suffering in the wake of the worldwide financial crisis, but one in which Moelis & Co. believes there's a sheik-load of money to be made.

"The Middle East and North Africa is of key strategic importance for Moelis & Company and our clients," said Moelis CEO Kenny Moelis in a press release. Mark Aedy, head of the firm's investment banking business for Europe, Middle East and Afrcia, noted in the same release that Moelis & Co. expects "a high rate of economic growth" in the region, with "increasing financial markets activity and significant cross-border capital flows for a sustained period of time."

Augusto Sasso, the head of Middle Eastern and North African investment banking at Moelis (and former CSFB and DLJ banker), will oversee the new office.

(DealBook)

Filed Under: Finance


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