Houlihan Lokey, the independent investment bank, has increased revenues at its European operation by almost a quarter and nearly doubled staff costs as it continues to target growth outside its home US market.

Revenues at Houlihan Lokey Emea were £95.9m for the year to 31 March 2019, according to accounts filed at Companies House this week. This was a roughly 23% increase on the previous year. Pre-tax profits for the period were up by 6.3% at £37.2m.