Sumitomo Mitsui invests in Wall Street's Moelis & Company

For the second day in a row, Sumitomo Mitsui Financial Group announces an investment in a business that builds its advisory capabilities.

Sumitomo Mitsui invests in Wall Street's Moelis & Company

Sumitomo Mitsui Financial Group is on the prowl. The Japanese lender said yesterday that it will invest $93 million in independent investment bank Moelis Company, just a day after it agreed to pay $7.3 billion for Royal Bank of Scotland’s aviation group.

The RBS buy was arguably a fire-sale purchase, while investing in the New York-based firm founded by former UBS executive Kenneth Moelis is an adjunct to an existing strategic alliance, which...

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