US independent advisory firm Evercore posted its strongest start to the year since going public, a period in which it also enjoyed an “unusually high level of success” in hiring new bankers.

First quarter revenues increased 60% year-on-year to $238 million, according to results published Wednesday, with investment banking revenues climbing 70% to $214 million. Mergers and acquisitions advisory fees increased 37% to $155.14 million.