Chuo Mitsui, the second largest institutional asset manager in Japan, has appointed an investment bank to look for merger and acquisition opportunities in the UK and Europe, providing a boost to the sector which has suffered from an M&A drought, despite a significant number of firms being up for sale.

Chuo Mitsui has appointed Canaccord Adams, a UK investment banking boutique, to look for M&A opportunities in the UK and Europe, along with possible joint ventures.