With just a handful of working days left of the first quarter, some familiar names are leading Europe's investment banking league tables. But there are some surprises too.

According to Dealogic, investment banks have earned a total of $3.7 billion in European fees from working the debt, loan and equity markets, and M&A advice so far in 2017. This compares with $4.2 billion in the first three months of 2016 and is the worst start to a year since at least 2012; a big drop in earnings from M&A work has been the main culprit.