Moelis makes move into Asia with acquisition

Moelis & Company, the independent advisory firm founded by former UBS banker Ken Moelis, is making its first acquisition in investment banking with the purchase of Asia Pacific Advisers, a Hong Kong-based firm.

The deal to buy APA, founded in 2009 by Richard Orders, former head of global clients in Asia-Pacific for ABN Amro, is part of a global push by Moelis as the bank seeks to extend its geographic reach.

The purchase of Mr Orders’ firm, which could be announced as soon as Thursday, will help Moelis tap into his network of clients in Hong Kong, China and the rest of Asia.

In his decades-long career in the region, Mr Orders, who also worked for Barings, has become one of Asia’s best-connected bankers.

He is one of the few western bankers to be close to Li Ka-shing, who controls Hutchison Whampoa, and other members of Hong Kong’s corporate elite.

He has worked with conglomerates such as Swire, which owns stakes in the airlines Cathay Pacific and Dragonair and has property interests around Asia.

“The growth in the region speaks for itself,” Mr Moelis told the Financial Times.

“We have to continue to be valuable to our clients, and as we build our network, we add information, knowledge and expertise that benefit all of them.”

As head of Asia for Moelis, Mr Orders will lead the group’s expansion into other markets, such as Japan and south-east Asia, that have traditionally been difficult for independent investment banks.

“The starting point is Hong Kong, but there is a desire to expand the footprint throughout the region, and we will do that as and when we find the right opportunities,” Mr Orders said.

Moelis has received inquiries from a number of Asian institutions about some form of alliance and has held conversations with several potential partners across Asia, the Financial Times reported this month.

APA’s eight-strong team will be able to offer Asian clients the firm’s expertise and resources in the US and Europe, where Moelis is expanding under the leadership of Mark Aedy, who joined from Merrill Lynch.

Moelis has grown quickly since it was founded in 2007 and has more than 470 people.

Mr Moelis told the FT that he saw ample opportunities to continue hiring, highlighting energy, financial services and healthcare as areas of focus.