I don't want to pick on Deutsche Bank, but I think the world of the regulated financial conglomerate, it is a strange thing. There is nothing in common between writing checks and running branch offices, issuing credit cards - those are good businesses, but they really have zero in common with M&A advice. They're a different customer.
Ken MoelisYou get behind some of the numbers, like the underfunded pensions in the US, and I'm not sure people even understand how wrong their situation is.
Ken MoelisWe're a small part of this ecosystem. When we go to a school and talk about investment banking, they are these monster financial conglomerates, and so we end up in the same pot. That is still an issue for us.
Ken MoelisThere is a desire for change. There is a millennial generation that doesn't like what they're seeing, but doesn't quite know what the solution is.
Ken Moelis