Lazard has hired two senior managing directors as the independent investment bank launched a new unit for its UK arm.

The bank has acquired a new business called Makinson Cowell, bringing in senior bankers Bob Cowell and Howard Coates to lead it. The division will focus on offering capital markets and investor relations advice. Makinson Cowell has been running independently since 1989, and works with UK companies in the FTSE 100 and 250.