Moelis says Sumitomo relationship going “extremely well”

In January this year, Sumitomo Mitsui Banking Corporation (SMBC) paid $93 million for a 5% stake in Moelis & Company, an advisory firm. The deal came with a strategic alliance agreement under which Moelis would provide global advice for Japanese clients of SMBC and its securities arm SMBC Nikko. In return, SMBC and SMBC Nikko would provide Moelis access to their Japanese clients.