Moelis’ crypto foray is a bottom-ticking flier

Greenhill & Co

25/07/2022 18:28

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Jonathan Guilford
    NEW YORK, July 25 (Reuters Breakingviews) - Investment banks
often launch advisory initiatives at the top of hot markets. The
boutique led by Ken Moelis is instead pushing into blockchain as
the market is imploding. The business looks ripe for
consolidation. If Moelis culls market share, it may have cracked
a new model. 
    Full view will be published shortly.
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    CONTEXT NEWS
    Boutique investment bank Moelis said on June 25 that it had
launched a new group focused on offering financial advisory
services to blockchain-related companies. Moelis has appointed
cryptocurrency venture investor Lou Kerner as a senior advisor
to the group, while firm co-founder John Momtazee will lead the
effort. 

 (Editing by Lauren Silva Laughlin and Sharon Lam)
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