Piero Novelli appeared in the FN100 list in 2006, when he was global head of mergers and acquisitions at UBS. Today, as global co-head of M&A at Nomura, he is leading the Japanese bank's quiet ascent up the advisory rankings.

Novelli joined Nomura in January 2011 when the bank ranked 13th for M&A advice globally, according to data provider Dealogic. During 2011 the bank rose one place to 12th but over the first six months of this year that rate of improvement has accelerated and Nomura now ranks inside the top 10, in ninth position.