Tuesday, 24 May 2016
Last updated 19 hours ago
May 28 2014 | 9:58am ET
Following a three-year foray into hedge funds, Robert Sorrell is returning to investment banking.
Sorrell was named a managing director and senior financial sponsor advisor at boutique investment bank Moelis & Co., Financial News reports. The move comes a year after Sorrell shuttered his Sorrell Capital, which he launched in 2010 after leaving Goldman Sachs.
“Improvement in the macroeconomic environment, monetization of existing sponsor portfolio assets and new money raised by funds are all expected to drive higher volumes of financial sponsor activity in Europe in the coming years,” Moelis’ co-head for Europe, Kasim Kutay, said. “With this increase in activity, we are delighted that Robert is joining the firm.”
Sorrell is one of three financier sons of Martin Sorrell, head of advertising and public-relations firm WPP. His brother, Jonathan, who once ran Goldman’s Petershill private-equity fund investing in hedge fund firms, is now CFO of the Man Group. Mark Sorrell remains at Goldman as co-head of U.K. investment banking.