Moelis & Company Announces Higher Non-Comp Expenses Amid Rising Pipeline
Moelis & Company (MC) expects its second-quarter non-compensation expenses to fall in the mid-to-high $60 million range. The firm reported a significant increase, with its announced deal pipeline rising by 80%. CEO Navid Mahmoodzadegan highlighted that Q2 was another strong period for Moelis, driven by record revenues for both the quarter and first half of the year. The growth in revenue is attributed to higher average fees per completed transaction as well as meaningful contributions from other business areas. The firm's performance reflects a robust market environment for advisory services, which could support continued momentum into future quarters.
Tickers: $MC
Topics: finance investment banking revenue growth