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Wall Street Destroys Lots of Value With Lapses, Moelis Says

  • Goldman, Morgan Stanley stand out for creating value, he says
  • Moelis predicts Trump beats Clinton as voters demand change
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Ken Moelis on M&A, Technology, Political Risks

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Ken Moelis, the former UBS Group AG executive who took Moelis & Co. public two years ago, said he’s keeping in mind the lapses of giant investment banks as he works to build his boutique.

“Over my career, over 35 years, it’s hard to find value-creation outside of Goldman and Morgan,” Moelis said Wednesday at the Bloomberg Markets Most Influential Summit, praising Goldman Sachs Group Inc. and Morgan Stanley for developing talent and promoting integrity. “If you look around, you’ll see that there has been a lot of value destroyed in our industry when you get away from those simple ways of approaching the business.”