Moelis & Co., the investment bank that went public this year, hired former Citigroup Inc. banker Philip Smith to advise industrial companies in Europe, the Middle East and Africa.
Smith will join as a managing director and focus on capital-goods companies and automotives, according to an e-mailed statement from Moelis today. Before joining the New York-based firm, he worked for more than 17 years in the sector where he covered diversified industrials at Citigroup.
European industrial deals have risen more than 75 percent so far this year, led by the Holcim Ltd.-Lafarge SA cement merger and General Electric Co.’s purchase of Alstom SA’s energy assets. Moelis, founded by Wall Street veteran Ken Moelis in 2007, has been expanding since its initial public offering in April.
“Historically, the industrials sector has been very active in M&A,” said Matt Prest, co-head of Europe at Moelis. “We are seeing strong signs of increased activity from both corporates and financial sponsors.”