Moelis Hires Team of Senior SVB Securities Technology Bankers

Moelis & Co. hired at least seven senior managing directors from SVB Securities, according to people with knowledge of the matter, marking one of the largest poachings of an investment-banking team in recent years.

(Bloomberg) — Moelis & Co. hired at least seven senior managing directors from SVB Securities, according to people with knowledge of the matter, marking one of the largest poachings of an investment-banking team in recent years.

In addition to co-head of investment banking Jason Auerbach, the New York-based advisory firm is adding J.T. Stephens, Robert Jackman, Nathan Laverriere, William Goodman, Bob Casey and Chris Montgomery, said the people, all of whom asked not to be identified discussing information that isn’t public. Other SVB bankers are in discussions to join Moelis, they added.

A Moelis spokeswoman declined to comment. An SVB Securities spokeswoman didn’t immediately respond to requests for comment.

All seven bankers were part of a group that moved to SVB from UBS Group AG in 2021.

Departures from SVB Securities are likely to prove a blow to an effort by its parent, SVB Financial Group, which is exploring options for the unit following the failure of Silicon Valley Bank, which collapsed into Federal Deposit Insurance Corp. receivership on March 10. SVB Financial filed for Chapter 11 bankruptcy protection a week later.

The FDIC announced late Sunday that First Citizens BancShares Inc. agreed to buy Silicon Valley Bank. That deal doesn’t include SVB Securities.

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