On March 9, 2023, Moelis & Company announced the appointment of Elizabeth Crain to Vice Chair and the promotion of Kate Pilcher Ciafone to Chief Operating Officer, both effective October 1, 2023. Ms. Crain is a Co-Founder and has served as Chief Operating Officer since 2007. Ms. Crain served as a director of Company from July 2018 to April 2021.

Ms. Crain has been in the investment banking and private equity industries for almost 35 years as a banker, principal and operating executive. Prior to founding Company, Ms. Crain worked at UBS from 2001 to 2007, where she was most recently a Managing Director in the UBS Investment Bank Office of the CEO and President, Manager of the Investment Bank Client Committee, a member of the Investment Bank Board, and previously Chief Operating Officer and Chief Administrative Officer of the UBS Investment Banking Department Americas franchise. Before joining UBS, Ms. Crain was in the private equity industry from 1997 to 2001.

She began her career in investment banking in 1988 at Merrill Lynch. Ms. Crain is a Director Nominee to the Nokia Corporationand serves on the Board of Directors of Exscientia Ltd., the Graduate Executive Board of The Wharton School and the Board of Trustees of The Windward School. Ms. Crain holds a B.S. from Arizona State University and an M.B.A. from the Wharton School at the University of Pennsylvania.

Ms. Ciafone is a Co-Founder and has served as the Chief Operating Officer of Investment Banking at Moelis & Company since August 2019. Ms. Ciafone previously served as Head of Business Management at Moelis & Company from May 2015 to August 2019. Ms. Ciafone previously held a number of other leadership roles at Moelis & Company since the Company's inception in 2007.

Ms. Ciafone has over 20 years of experience in the investment banking industry both as a banker and as an operating executive. Prior to Moelis & Company, Ms. Ciafone worked at UBS from 2002 to 2007 in various roles, most recently in the office of the CEO and President at UBS Investment Bank where she helped analyze growth opportunities and develop strategy for the firm. She began her career as an investment banker in the Financial Institutions Group at UBS where she advised clients on mergers and acquisitions and raising equity and debt financing.

Ms. Ciafone serves on the Board of Directors of MA Financial Group Limited and is a David Rockefeller Fellow through the Partnership for New York City. Ms. Ciafone holds a B.S. in Commerce with distinction from The McIntire School of Commerce at the University of Virginia.