UBS Warburg Promotes Moelis

UBS Warburg promoted Ken Moelis to sole head of U.S. investment banking and gave co-head Robert Hotz a new post in which he will spend more time working with clients, according to people familiar with the situation.

Moelis, 43, joined UBS Warburg last year from Credit Suisse First Boston after CSFB’s purchase of Donaldson, Lufkin & Jenrette Inc., Moelis’ old firm. UBS Warburg is the securities unit of UBS, Switzerland’s biggest bank.

Moelis, a star with now-defunct Drexel Burnham Lambert in the 1980s, headed DLJ’s L.A. office and was co-head of investment banking at CSFB after the merger, before abruptly leaving.