Boutique investment bank Moelis & Co. announced its managing director promotions - here are the names

REUTERS/Lucas Jackson

Chief executive officer of Moelis & Co., Ken Moelis.

• Boutique investment bank Moelis & Co. announced its new class of managing directors Thursday.
• Five new managing directors were promoted from the company's New York, London, and San Francisco offices.

Boutique investment bank Moelis & Co. announced its new class of managing directors Thursday.

The firm, which has over 700 employees globally, elevated five new people to the MD level:

• Ben Axelrod (New York)
• Francesco Del Vecchio (London)
• Anthony Doeh (London)
• Mark Laoun (New York)
• Swati Rao (San Francisco)

Moelis & Co., which was founded a decade ago by Wall Street rainmaker Ken Moelis, prefers to promote from within.

"I've learned the hard way that one negative culture carrier will undercut 10 positive culture carriers," Moelis, the company's CEO, said at the Bank of America Future of Financials Conference in November. "It's really that bad on Wall Street. So we really would prefer to do internal promotion."

With the new promotions, 30% of the company's MDs have reached that level via internal promotion, the company said in its announcement.