Moelis names former banker Sadowsky to lead diversity efforts

Ken Moelis

REUTERS/Lucas Jackson

Chief executive officer of Moelis & Co., Ken Moelis (C), smiles after ringing the bell to mark the company's IPO on the floor of the New York Stock Exchange shortly after the opening bell in New York.

  • Independent investment bank Moelis & Company has named Jane Sadowsky as a senior advisor to enhance diversity and inclusion.
  • Sadowsky is a former investment banker and has also advised CEOs on leadership matters.
  • The appointment comes as companies across corporate America are taking a closer look at diversity issues in their workforces.

Moelis & Company has appointed Jane Sadowsky as a senior advisor in a new role to focus on diversity and inclusion at the boutique banking firm, according to a memo seen by Business Insider.

Sadowsky, a 25-year Wall Street veteran, advised power and utility companies as an investment banker at banks including Evercore and Citi and has also served as a leadership coach to top corporate executives.

Sadowsky is being brought in to help Moelis attract and retain women and other underrepresented groups at a time when firms across Wall Street are trying to become more inclusive. The #MeToo movement broadly has prompted companies across America broadly to take a closer look at diversity issues in their workforces.

"Diversity and inclusion at Moelis & Company, and the financial services sector more broadly, can only be achieved through a multi-pronged strategy that is shaped by those who have bold, yet pragmatic ideas specifically tailored for our industry," said Moelis co-president Navid Mahmoodzadegan in a memo.

Moelis has a number of other programs to promote a diverse workplace including a fellowship to help finance business school for women and minorities, a young leaders diversity program for sophomores in college, and a veteran's program.

CEO Ken Moelis has also said it's possible that the next chief executive of the bank he started might be a woman.

Still, women represent just a small fraction of senior leaders across Wall Street.

According to non-profit group Catalyst, women represent just 16% of senior officials and managers in investment banking.

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