NEW YORK - Moelis & Company (NYSE:MC), a global independent investment bank, announced today the addition of Dr. Louise Mirrer to its Board of Directors, effective immediately. Dr. Mirrer's extensive background in academia and the non-profit sector is expected to bring a diverse perspective to the board.
With over forty years of experience, Dr. Mirrer has been at the helm of the New York Historical Society as President and CEO since 2004, where she has been credited with significantly elevating the institution's profile. Her achievements include a successful $100 million capital campaign and a substantial increase in annual visitor numbers.
Prior to her tenure at the Historical Society, Dr. Mirrer held prominent roles at the City University of New York and the University of Minnesota. Her academic career has been distinguished with numerous awards and honors, reflecting her contributions to higher education at institutions such as Fordham University and UCLA.
Chairman and CEO of Moelis & Company, Ken Moelis, expressed confidence in Dr. Mirrer's capabilities, citing her track record of driving growth and her leadership experience as assets that will benefit the board's deliberations.
Dr. Mirrer's academic credentials are equally impressive, holding a double Ph.D. from Stanford, a graduate Diploma (LON:DPLM) from Cambridge, and a BA magna cum laude from the University of Pennsylvania. She is also recognized as an Honorary Fellow of Wolfson College, Cambridge, and is a member of the Council on Foreign Relations.
As the fourth Independent Director on Moelis's Board, Dr. Mirrer joins John Allison, Kenneth Shropshire, and Laila Worrell, further strengthening the board's independent oversight.
Moelis & Company specializes in providing strategic advice and solutions to a diverse client base, including corporations, governments, and financial sponsors. The firm operates from 23 locations worldwide, offering services such as mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters.
This announcement is based on a press release statement from Moelis & Company.
In other recent news, Moelis & Company has reported a robust growth in Q2 2024. The company's revenues for the second quarter rose by 45% from the previous year, reaching $265 million, while the first-half revenues increased by 31% to $482 million. This growth was attributed to an expansion across all major product areas.
The company has maintained a strong cash position without any debt and declared a steady quarterly dividend. New managing directors have been added to the team to enhance advisory capabilities.
Internationally, Moelis & Company is growing, especially in Europe, Asia, and the Middle East. Despite concerns about China, CEO Kenneth Moelis anticipates an upturn in restructuring and M&A activities, drawing parallels with the post-2008 financial crisis era. These are some of the recent developments within the company.
InvestingPro Insights
As Moelis & Company (NYSE:MC) welcomes Dr. Louise Mirrer to its Board of Directors, the company's financial health and stock performance remain a focal point for investors. According to InvestingPro data, Moelis & Company boasts a robust market capitalization of $5.24 billion. The firm's revenue has seen a healthy growth of 19.89% over the last twelve months as of Q2 2024, indicating a positive trajectory in its financial performance.
InvestingPro Tips highlight that Moelis & Company is expected to see net income growth this year, which aligns with the company's recent strategic moves, including expanding its board. Additionally, the company has shown a strong return over the last three months, with a 29.88% price total return, reflecting investor confidence in its operations and leadership.
Moreover, Moelis & Company has demonstrated a commitment to shareholder returns, maintaining dividend payments for 11 consecutive years. The current dividend yield stands at an attractive 3.56%, providing a steady income stream for investors. For those interested in further insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/MC, offering a comprehensive analysis of the company's financial health and stock performance.
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