Moelis & Company Expands Equities Business in Australia
Moelis & Company today announced the expansion of the firm’s Equities business in Australia with the acquisition of Sydney-based stock broker Foresight Securities. Foresight Securities is an institutional stock broking business that specializes in research, sales and trading of Australian small-cap and mid-cap stocks. The acquisition further builds the firm’s Australian Equities business launched in March and in addition to expanding sales and trading, immediately allows Moelis & Company to provide clients with current and historical research coverage of over 90 small-cap and mid-cap Australian companies. Additionally, through the acquisition, Moelis & Company will become a licensed trading participant of the Australian Stock Exchange (ASX) with an operating Australian financial services license.
“We are thrilled that the acquisition of Foresight Securities will allow us to accelerate our previously announced plan to grow our small-cap and mid-cap equities effort as well as our plan to become an ASX trading participant,” said John Steinthal, Head of Equities at Moelis & Company in Australia. “The team at Foresight has built an impressive small-cap and mid-cap specialist equities business and we are excited about the integrated product platform we will be able to provide our corporate and institutional clients across this important market segment.”
Moelis & Company in Australia is building an equities business focused on providing research, research sales, agency trading, and equity capital markets offerings to an institutional client base. The firm plans on developing a differentiated thematic research product, focusing on investment and trading ideas and recommendations.
“The Foresight team is very excited to join Moelis & Company. Becoming part of a high quality, fast growing equities and investment banking business will allow us to further develop our equities product capabilities across our client base,” added Foresight Securities Principal Ian McKenzie. “Access to the global investment banking expertise of the firm will be invaluable for the corporate needs of our clients.”
Moelis & Company has been building its Equities business in Australia with several recent key senior hires:
- John Garrett will join the firm as Managing Director and Head of Hedge Fund Sales and will be responsible for Moelis & Company’s hedge fund servicing business. Mr. Garrett was formerly Head of Hedge Fund Sales at UBS Investment Bank.
- John Farthing, formerly of Providus Capital and UBS Investment Bank, will also join Moelis & Company’s hedge fund servicing business.
- Rob Farrington has joined the firm as a Managing Director and Head of Sales Trading. Mr. Farrington was formerly the Head of Sales Trading at Credit Suisse and has many years of experience servicing the trading needs of Australia’s largest institutional clients.
- David Iron will join the firm from RBS to add further experienced resources in trading and execution for the firm’s clients.
- Troy Derwin will join the firm to spearhead the Research Sales offering. Mr. Derwin joins Moelis & Company from Credit Suisse and brings significant experience in general equity and listed REITs research sales.
About Moelis & Company
Moelis & Company is a global investment bank that provides financial advisory services and capital raising solutions to clients in connection with mergers and acquisitions, restructurings and other strategic matters. The firm also manages investment funds that integrate capital with its advisory expertise. With over 320 employees, Moelis & Company serves a broad client base through its offices in New York, Boston, Chicago, London, Los Angeles and Sydney. For more information, please visit www.moelis.com.