Jim Armitage: A Saudi coup for Moelis — and there’s more to shoot for

While it’s clearly a major coup for Ken Moelis, the dealmaker who started off at junk bonder Drexel Lambert back in the day, his victory is primarily over boutiques like Rothschild, Lazard and Evercore, not the Wall Street and City global banks. The megabanks will still be coining it from this $2 trillion share sale, distributing the stock to investors around the world.