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Washington Ties Help Boutique Banks Land Key Treasury Roles

  • Eric Cantor working alongside Moelis CEO Ken Moelis on mandate
  • Perella Weinberg’s Bob Steel helped firm win Treasury role
Eric Cantor speaks during an interview in New York in 2017.

Eric Cantor speaks during an interview in New York in 2017.

Photographer: Christopher Goodney/Bloomberg

In 2008, it was Eric Cantor’s job as a congressman to help drum up support for the bank bailouts as the economy was sinking. Now he’s on the other side.

Cantor, who later became the House Majority Leader, played a role in helping his investment bank, Moelis & Co., score a key mandate this week in helping the U.S. Treasury Department dole out loans that are part of its historic rescue package, according to people familiar with the matter. He is working on the project alongside the firm’s Chief Executive Officer Ken Moelis, who once counted now President Donald Trump as a client.