European banks and other financial institutions plan to hire more mergers and acquisitions staff, even though the percentage of those who fear the burst of the loan bubble might hit the number of deals has nearly doubled in a year, according to a survey.

A poll of 348 banks, corporates, legal firms and private equity businesses conducted as the worst of the credit crisis unfolded this summer disclosed that 84% were seeking to hire staff, sharply higher than the 69% recorded in April and 75% a year ago.