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Gillian Tan

Moelis Shares the Spoils

The boutique pays a price for being public.

Every now and then, bankers at boutiques such as Moelis & Co. may rue the fact that they're working for a public company.

Like Monday: the Ken Moelis-led firm was named as an adviser to Pfizer on its superlative-laden merger with Allergan, alongside Guggenheim Securities, Goldman Sachs and Centerview Partners. The foursome will share an estimated $120 million to $150 million in fees, according to consulting firm Freeman & Co.