Boutique investment banks are handing more responsibility to junior and mid-ranking dealmakers, and hiring bankers across the ranks, as firms look for ways to bolster talent amid an ongoing boom.

Ken Moelis, chief executive of boutique Moelis & Co, said that vice presidents, executive directors and newly-promoted managing directors at the firm were bringing in more deals — particularly from private equity firms — and the onus for big transactions was not falling just on “superstar M&A bankers”.