Lazard’s mergers and acquisitions, capital structuring and sovereign advisory work nearly doubled in the first quarter of this year on the back of increased deal activity globally and improved sentiment on global growth prospects.

Chairman and chief executive Kenneth Jacobs said in an interview with Financial News: "The financial advisory results for the first quarter really were a function of strong performance both in the US and in Europe. We've seen some pickup in activity in Europe. I wouldn't say Europe is booming, but there's been an improvement."