Investment banks, advisory firms and law firms are all boosting their restructuring capabilities as bankruptcy work seems to be around every corner, as is evident by
Thursday's plethora of news on a possible Chrysler LLC Chapter 11 bankruptcy filing. Moelis & Co. -- along with
its broader hiring spree -- is right on top of the trend with the additions of Matthew Prest and Charles Noel-Johnson, who are expected to
join the firm's recapitalization and restructuring group in July, based in London.
The two worked together for more than five years at Close Brothers Group plc. Prest was a managing director and head of the European restructuring group at Close Brothers, and Noel-Johnson was a director. Prest will join Moelis as a managing director, and Noel-Johnson will join as an executive director.
More on Prest: Before Close Brothers, he spent five years with KPMG advising corporate and creditor clients on restructuring transactions including Flag Telecom, Jazztel and NTL. During that time, he spent 18 months seconded to the J.P. Morgan Chase & Co. (NYSE:JPM) workout team.
Since joining Close Brothers in 2004 Prest's key restructuring roles included Eurotunnel plc, Pressac plc, Highbury House plc, Autologic plc, Jallatte SA, TMD Friction, Ethel Austin, Schefenacker AG, Treofan GmbH and Global Automotive Logistic SAS.
The European additions follow on the heels of other newcomers to the 60-plus member Moelis bankruptcy team. Next month Jared Dermont
will join the New York office.
Dermont, a managing director, was with Rothschild where he sourced and
executed in-court and out-of-court restructuring and mergers and
acquisitions for companies, creditors and regulators. Before that, he
was a vice president in the healthcare M&A group at Banc of America
Securities LLC. -
Baz Hiralal
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