Deutsche Bank was the highest fee earner in European mergers and acquisitions advisory work during the first quarter of this year, according to Dealogic, the data provider.

Dealogic, which calculates fees based on completed transactions said that Deutsche earned $64m in revenues between January and March 2004, capturing 7.4% of the total European M&A fee market. JP Morgan was ranked in second place, generating $57m in fees, followed by UBS, which earned $54m.