As you walk in the door of the new London operation of PJT Partners, the smell of fresh paint is almost overpowering. Inside, the executives – some of whom joined the firm almost as recently as the interior decorators departed – are keen to explain their ambitions for this new venture.

But while the new Mayfair office has been open only since October 1, the day PJT Partners floated on the New York Stock Exchange, appearances - and fragrances - can be deceptive. As a listed entity, the global advisory bank may be new, but it is assembled of seasoned components.