Boutique Evercore has bolstered the number of senior investment bankers within its advisory unit by 23% over the past year as it has continued to hire despite a slowdown in deal activity.

The US-headquartered investment bank now has 134 senior managing directors within its advisory arm, it said in its second-quarter results, up from 109 at the same point last year. This hiring spree comes as Evercore made $1.2bn from M&A fees during the first six months of 2022, an increase of 12%.