Moelis Takes Loss to Add Staff Before an Expected M&A Rebound

Moelis & Co. said it’s bracing for a rebound in deal-making activity after a hiring spree that left the investment bank with a loss for 2023.

New York-based Moelis posted a $4.8 million adjusted net loss for the fourth quarter, which beat Wall Street’s consensus and brought the annual deficit to $15 million. Revenue for the quarter rose 6% to $215 million, better than expected.

Moelis has been recruiting senior bankers from other firms, including the collapsed Silicon Valley Bank and Credit Suisse Group AG. It’s betting the added headcount will pay off amid a pickup of mergers and acquisitions ...