Ken Moelis’s Mideast Bet Is Paying Off

Ken Moelis’s long courtship of governments in Dubai and Saudi Arabia is paying off as the Middle East enjoys a deal boom. But other Wall Street firms are seeking to cash in.

Bankers working for Moelis are busier than ever — so much so that the firm had to tear down walls at its Dubai headquarters to make room for its expansion drive. Meanwhile, rivals speculate that the Wall Street firm’s Middle Eastern operation is one of its biggest revenue generators per employee.