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Ken Moelis announced five new MDs at his investment bank Moelis & Co.
- Boutique investment bank Moelis & Co. is promoting five employees to managing director.
- Founder and CEO Ken Moelis sent around an internal memo late last week announcing the new class of MDs.
- The boutique, which is having a record year, now has 130 MDs, 30% of which were promoted internally.
Five employees at Moelis & Co. have a reason to start their Christmas celebrations early this year.
Wall Street rainmaker Ken Moelis, founder and CEO of the boutique investment bank, sent around an internal memo late last week announcing a new class of managing directors.
Five bankers from five different offices earned the promotion this year, according to the memo, which was seen by Business Insider:
- Chris Foss: In Los Angeles, Foss specializes in M&A advisory.
- Gavin Kolt: In New York, Kolt works in capital markets advisory.
- Paul Mann: In Chicago, Mann advises financial institutions on M&A and capital raising.
- Cyril Tabet: In Dubai, Tabet advises corporates, creditors, and sovereigns in the Middle East and North Africa region.
- Kevin Voelte: In Houston, Voelte is an oil and gas specialist, advising a variety of companies in the energy business.
The new MD additions - the same number of promotions as last year - brings the firmwide total to 130, 30% of which were promoted internally, according to the memo.
"Since founding Moelis & Company, our relentless focus on internal development has broadened our capabilities, strengthened our client relationships, and produced industry leading organic growth. We continue to invest in the long-term success of our people by positioning them to take on challenging and engaging work early in their careers and by creating exciting pathways to the most senior levels of our Firm," Moelis said in the memo.
The contents of the memo were confirmed by a company spokesman.
The rest of the company has plenty to celebrate as well: Amid an M&A boom in 2018, the boutique is having a record year, with nearly $650 million in revenue through three quarters, up 26% from $515 million in 2017.
Moelis ranked second among boutiques in global M&A deal fees through the third quarter, only trailing Evercore, according to Dealogic.
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