A boutique investment bank started by some top dealmakers at Goldman Sachs saw revenue in its UK operations drop 16% last year as it struggled against an M&A slump that hit its larger rivals.
Ardea Partners, led by former Goldman dealmakers Chris Cole and Don Truesdale, unveiled revenue of $21.2m for 2023, according to results posted on Companies House on 1 May, down from $25.4m a year earlier and $35.8m in 2021.