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A big Wall Street CEO just predicted a Trump presidency

Rachael LevySep 28, 2016, 20:52 IST

Chief executive officer of Moelis & Co., Ken Moelis smiles after ringing the bell to mark the company's IPO on the floor of the New York Stock ExchangeREUTERS/Lucas Jackson

Ken Moelis, CEO of investment bank Moelis & Company, is backing Donald Trump to win the US presidential election in November.

"I'm predicting that Donald Trump will win the election," he said.

Moelis made the comments at the Bloomberg Most Influential Summit in New York on Wednesday.

Moelis said that companies and people are "desperate" for a change.

"We haven't elected a president since George HW Bush based on competency," he said.

Moelis is the CEO and founder of Moelis & Co., a Wall Street advisory firm. He was recently named 45 on Bloomberg's list of the most influential people in markets.

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