When boutique M&A shops pitch clients they have a talking point: they keep client confidentiality better than big banks. But an insider trading case against several bankers, including low level bankers at moelis and CENTERVIEW, may upend that claim. Last week the US Attorney in New York unsealed a 40-count indictment against four defendants and the arrests of three members of what it called a "wide-ranging international insider trading ring" that included bankers, relatives of corporate insiders and securities traders. The bankers charged include Benjamin Taylor, a former employee of Moelis in London, and Darina Windsor, a former employee of Centerview in London. The indictment alleges the pair not only stole confidential information on pending deals, but tipped off reporters about the transactions.
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