Sumitomo Mitsui Finance Group's (SMFG) securities arm said on Wednesday it would invest $93 million in boutique investment bank Moelis & Co, boosting its cross-border advisory services while giving the U.S. bank a foothold in Japan.SMBC Nikko Securities Inc will hold about 5 percent in Moelis, valuing the U.S. bank at about $1.9 billion, more than publicly traded U.S. rivals such as Greenhill & Co Inc and Evercore Partners Inc.The deal follows SMFG's announcement the previous day that it is buying the aircraft-leasing business of Royal Bank of Scotland in a deal worth $7.3 billion.Japan's third-largest bank and other cash-rich peers are on a hunt for growth abroad, under pressure to diversify operations and aided by a strong yen.
Greenhill & Co., Inc., (Greenhill) is an independent investment bank focused on providing financial advice on significant mergers, acquisitions, restructurings, financings and capital raising to corporations, partnerships, institutions and governments. Shares of GHL traded higher by 0.43% or $0.17/share to $39.86. In the past year, the shares have traded as low as $26.38 and as high as $84.00. On average, 373560 shares of GHL exchange hands on a given day and today's volume is recorded at 349804.
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