Lazard has hired the banker behind some of Europe's biggest buyouts in the past two years in the latest sign the US financial services firm is boosting its ability to compete with bigger rivals.

It has appointed Fotis Hasiotis as co-head of its European private equity advisory division, according to a source close to the situation. He joins from from Bank of America Merrill Lynch where he co-ran the Europe, Middle East and Africa financial sponsors group with co-head Philip Noblet from 2008.