Rothschild has scored a coup by prizing mergers and acquisitions veteran Pierre Tattevin from rival boutique Lazard - beating a big US bank to his signature.

Moves between the two close-knit boutiques are exceptionally rare. Tattevin had been at Lazard since 1982 but, unsettled by changes, was said to be in advanced talks with a US bulge bracket firm when Rothschild made its move.