Greenhill, the US investment bank, has won its second new client this week advising Royal & Sun Alliance, the UK insurer, on the sale of a 20% stake in Rothschild Continuation Holdings, which owns the UK arm of Rothschild banking group, for £108.7m (€163m).

Yesterday the bank won its first mandate from Scottish Radio Holdings, a UK media group, taken over by rival Emap for £285m.