Former Milbank Asia Head Joins Boutique Investment Bank
Root says his role will be focused on helping Moelis expand throughout Asia, especially China and India. He will also be giving independent financial opinions to clients involved in large-scale deals.
New York-based Moelis, founded in 2007 by former UBS AG investment bank president Ken Moelis, acts as an independent financial advisor on M&A, capital markets, and restructuring transactions. The now-600 person bank has managed to attract some major hires from bigger banks. Last month, it brought aboard as its Hong Kong-based Asia M&A head Zhang Xiuping, who had held the same position at Bank of America Merrill Lynch.
Root, long Milbank's public face in the region, joined the firm as a partner in Hong Kong in 1996 and became head of the Asia corporate practice in 2001. He retired from the firm in May. He has also previously worked in Asia for Davis Polk & Wardwell and the former Roger & Wells.