Moelis & Company founder Ken Moelis wants to make Wall Street exciting again for young people.
The star investment banker, who launched his own boutique firm in 2007, said in a recent interview with Business Insider that while the young Wall Street experience has changed, it is still exciting.
“The leverage Wall Street has to change the world is greater than technology,” Moelis said.
“The ability to change the world and make an impact in a firm like this, where at a very young age you’re in the room with CEOs and boards of directors at major companies, actually making really critical decisions about the future of the company, it should be exciting; it is exciting.”
Moelis noted that the search for top talent has grown harder in recent years as bright young people are choosing other fields.
“We look pretty hard — we put a lot of time and effort into finding talent,” he said.
He noted that, nowadays, Wall Street firms like his recruit at 30 or 40 different universities, while several decades ago they would only recruit at three or four.
He added that his firm, as a boutique bank, strives to differentiate itself from the other “monster financial conglomerates,” or bulge-bracket investment banks, they are competing with for talent.
“We end up in the same pot — that is still an issue for us,” he said.