Banker temporarily suspended from Moelis following widespread dissemination of video depicting physical altercation.
In a shocking turn of events, investment banker Jonathan Kaye, who joined Moelis in 2013 and previously worked at Citi's global mergers and acquisitions group, has been placed on leave following an altercation at a Pride celebration in Brooklyn on June 8.
A video circulating online shows Kaye, an M&A banker, appearing to strike a woman, causing her to fall to the ground. The video does not show what happened before the punch, but it has sparked widespread condemnation. Onlookers in the video can be heard calling Kaye an "a--hole" and a "horrible person," and telling him to "go f--- [him]self."
Kaye, who has detailed his own struggles breaking into banking without a finance background, responded to the incident by saying "She f---ing threw s--- all over me." One source claims the altercation took place after four people with a Palestinian flag threw liquids on Kaye. However, the exact circumstances leading to the altercation remain unclear.
Ken Moelis, the founder and CEO of Moelis, has announced that the investment bank is conducting an investigation into the incident. No new regulations or policies have been mentioned in relation to the incident.
In a podcast last year, Kaye discussed mentorship and the skills needed to succeed in banking. He emphasized the importance of hard skills, grit, resilience, listening, empathy, and consistency. He noted that opportunities and mentorship followed those who did good work consistently. Kaye also mentioned the importance of managing difficult people and staying away from toxic ones.
At the time of writing, a link to Jonathan Kaye's LinkedIn profile is not publicly available. A wet substance can be seen across the back of Kaye's blazer in the video. Edward Ruff, a managing director at a different bank, was previously placed on leave for alleged intimidation and shouting insults.
It is important to note that this is a developing story, and more information may become available in the coming days. The incident has raised questions about behaviour and conduct in the financial industry, and highlights the need for greater accountability and respect, particularly during public events such as Pride celebrations.
