It has been the year that investment banking activity finally rebounded, with total fees in 2014 set to be at their highest level since 2008.

Initial public offerings got off to a roaring start, although they slowed in the second half of the year, while the high-yield bond market has achieved a record for issuance. Large mergers and acquisitions were also back on the table for the first time in several years. Despite several multibillion deals falling by the wayside, M&A activity by deal value in Europe is set to end the year up by nearly 20%.