Sumitomo Mitsui Follows RBS Aviation Buy With Moelis Deal

Sumitomo Mitsui Financial Group Inc. said it will invest in U.S. investment bank Moelis & Co. a day after the Japanese lender disclosed its $7.3 billion purchase of Royal Bank of Scotland Group Plc’s aviation division.

Sumitomo Mitsui Banking Corp., a unit of Japan’s second-biggest lender by market value, will invest $93 million in Moelis, the New York-based firm founded by former UBS AG executive Kenneth Moelis, with completion of the transaction slated for mid-February, the companies said in a statement today. The stake represents about 5 percent of Moelis, Kiyoo Kuniyoshi, a spokesman for Sumitomo Mitsui’s brokerage unit, said by phone.