Boutique investment bank Moelis & Co will continue to be "aggressive" in hiring senior dealmakers, its chief executive said, despite an 80% decline in profit during the third quarter as deal activity has slowed.

Ken Moelis, chair and chief executive of Moelis & Co, said that next year the bank "will be aggressive and we are going to spend" on senior talent, despite a slowdown in deals that has forced larger rivals to cut back.