Kenneth D. Moelis is taking a big step toward becoming the chief of the next publicly traded investment bank.
His firm, Moelis & Company, filed for an initial public offering on Tuesday. It listed its fund-raising target as $100 million, a preliminary figure meant to calculate registration fees.
The firm will be joining a handful of independent investment banks that already reside on the stock markets. And it would come at a time when these firms â€" smaller than the likes of Goldman Sachs or JPMorgan Chase â€" have been collecting more deal fees.
The firm plans to trade on the New York Stock Exchange under the stock symbol “MC.â€
The offering is being led by Goldman Sachs and Morgan Stanley, with Moelis itself serving as an additional underwriter.
