Moelis’ New CEO Pledges to Push ‘Hazing’ Out of Banking Culture

Ken Moelis started his own firm in an era when Wall Street revered top dealmakers almost like sports stars. Two decades later, he’s handing the firm to a protégé who’s quick to compare its fleet of bankers to elite athletes.

Navid Mahmoodzadegan, who made his name handling big deals in sports and entertainment, is poised to take over Moelis & Co. as the boutique investment bank primes itself for a long-awaited rebound in mergers.