×

Wall Streeter Ken Moelis: 'Trump will win the election'

Kenneth Moelis, chief executive officer, Moelis & Co.
Andrew Harrer | Bloomberg | Getty Images
Kenneth Moelis, chief executive officer, Moelis & Co.

Donald Trump has been having a rough time rounding up support from Wall Street, but one big financier said Wednesday the real estate tycoon
will ride an anti-establishment wave to take the presidency.

"The country is in a desperate desire for change," said Ken Moelis, a major player in the investment banking industry as head of Moelis & Co. "I'm predicting that Donald Trump will win the election."

"We haven't elected a president since George H.W. Bush based on competency," Moelis added during an appearance at a Bloomberg conference.

Moelis didn't say whether he backs Trump.

Though Trump over the course of his career has made plenty of friends in the banking industry, he's failed to capture a lot of high-profile endorsements. Billionaire investor Carl Icahn, vulture capitalist Wilbur Ross and former GE CEO Jack Welch lead a small cadre of Wall Street support for the Republican nominee.

The conference has seen several speakers talk politics so far, with economist Glenn Hubbard at Columbia Business School offering some additional Trump support.

"Directionally, he's on the playing field. Mrs. Clinton is not on the playing field if that field is economic growth," said Hubbard, a George W. Bush administration figure tied to controversial tax cuts on dividends.

Hubbard called Trump "a little undisciplined" and said he should better "articulate a general vision for growth."

Wall Street has poured money into Democrat Hillary Clinton's campaign but has held off on cutting many big checks for Trump. Clinton has pulled in $58.5 million from the finance industry, while Trump has taken in about $557,000, according to the Center for Responsive Politics.