Moelis makes Asia 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, reports the FT. 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 Orders’ firm, which could be announced as early as Thursday, will help Moelis tap into his broad network of clients in China and elsewhere in Asia.