Eric Cantor to join Moelis as vice chairman

Former U.S. House Majority Leader Eric Cantor will join investment bank Moelis & Co as vice chairman and managing director, the company said, adding that Cantor will also be elected to its board. Cantor, who was defeated in June by a Tea Party challenger in a Republican primary election, will provide strategic counsel to the company's corporate and institutional clients on key issues, Moelis said. Cantor, the No.2 Republican in the House of Representatives, was beaten by college economics professor David Brat, who accused Cantor of betraying conservative principles on spending, debt and immigration.