Firm hits out at Moelis for hiring three of its bankers

The CEO of independent Brazilian investment bank BR Partners Banco do Investimento SA on Wednesday called Moelis & Co's hiring of three of its top bankers 'unethical' and are evaluating a potential response.

Reuters reports that on Tuesday Moelis hired Otávio Guazzelli, Jório Salgado-Gama and Erick Alberti from BR Partners to open the bank's first office in Brazil.

According to BR Partners CEO Ricardo Lacerda, the executives were approached improperly, especially since the two banks had worked together for over two years.

The relationship, developed during a series of transactions the two banks handled together, gave Moelis access to confidential information about BR Partners, Lacerda said. A Moelis spokeswoman denied any wrongdoing.

To access the complete Reuters article hit the link below:

BR Partners says Moelis' hiring of its Brazil bankers 'unethical'

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