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US investment bank opens Beijing branch

Updated: 2011-11-10 16:13

(chinadaily.com.cn)

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BEIJING – US independent investment bank Moelis & Company advanced its global expansion by reaching out to the Chinese market in an effort to tap into the country's fast-growing mergers and acquisitions (M&A) market.

The firm announced the opening of its Beijing office on Wednesday.

Founded in 2007 by Wall Street veteran Ken Moelis, the bank benefited from the global financial crisis in 2008 by recruiting high quality talents from the large investment banks hit hard by the crisis.

The expansion in China is the key step of the firm's plan to boost its presence in Asia, Ken Moelis, chief executive officer of the firm said at a press briefing in Beijing. He said that major business opportunities for the firm will be from the M&A deals in China's energy and resources sector, which will continue to drive the M&A market.

"With a strong appetite from Chinese companies for resources and technology, we see significant opportunities to assist them to expand internationally and on their outbound investment activities,” said Joseph Chow, a managing director at Moelis & Company.

Earlier this year, the firm was involved in chemical maker China National BlueStar Co's acquisition of Norwegian conglomerate Orkla Group's Elkem unit.

In April, the firm also completed the acquisition of Asia Pacific Advisers, a financial advisory firm based in Hong Kong, to consolidate its foothold in the Asia-Pacific market.