Greenhill & Co is at last enjoying the M&A rebound it had promised for the previous three quarters, with a "significant" pick-up in closed deals pushing the US advisory boutique's profits up for the first time in a year.

Revenues rose 23% year-on-year during the three months to June 30 to $90.5 million on the back of a "significant increase in the number and scale of completed transaction fees, offset in part by a decrease in announcement fees and lower retainer fee revenue".