The war for banking talent sweeping Wall Street is impacting all banks, from bulge-bracket firms to boutique outfits, and is likely to intensify, according to MOELIS chief executive Ken Moelis."We're fighting a war for talent," Moelis said.Moelis last week reported record second-quarter revenues of US$361m, up 126% from the year-earlier quarter as M&A transactions hit record levels.Deal volume surged, which has resulted in long hours and demand for more staff to work transactions. Moelis said the US$361m in revenues in the quarter were created by more than 180 fee events."We are trying to do all sorts of hiring as we can in the junior ranks, especially to take the burden off, you can imagine," Moelis said. "We are trying to make life better, easier, hire more people, give protected time - all the things that you would try - and still satisfy clients and make sure we get great work product," Moelis said."It's a time to keep your talent," he said.
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