US-based independent financial advisory firm Moelis has expanded its Asian presence with the purchase of Hong Kong-based investment bank Asia Pacific Advisers (APA).  

APA, a local boutique advisory firm, is the latest to join Moelis in what has been a particularly aggressive expansion strategy since the company's inception in 2007. Moelis now has nearly 500 employees and opened a new office in Dubai in January.

Moelis' expansion in Hong Kong should help it to access the booming Asia-Pacific market for investment banking and wealth management.

It is not known where Moelis will take its business after Hong Kong, but it has been suggested that it will look at Japan and south-east Asia, something that APA would certainly play a part in making happen. The large number of high-net-worth individuals in Singapore and China could also play a part in the company's strategic thinking.