The European arm of US independent adviser Moelis & Company has reported a loss of £7.6m (€9.1m) in its first set of year-end accounts, reflecting the high cost of attracting and paying senior banking talent as it waits for fee income to start rolling come in.

Moelis & Company UK made the loss for the period between September 9 2008 and December 31 2009, according to accounts filed with Companies House.

Moelis in Europe reports £8m loss in year one

High compensation costs and pending fee income contribute to loss at UK branch of US independent adviser

Liam Vaughan

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Deutsche Bank’s UK MD numbers slide for the first time in four years

HSBC plans to increase staff surveillance as it moves to new London HQ

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

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