Revenues at Ondra Partners, an advisory firm established by former Lehman Brothers bankers, rose nearly 5% in the 12 months to the end of March  — but the £2m cost of the exit of one its founders meant profits fell.

London-based Ondra, which was set up almost a decade ago, generated revenues of £38.1m, up from £36.4m a year earlier, according to accounts filed with the UK's Companies House.