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.
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.
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