Revenues from mergers and acquisitions and other advisory work at New York-based Lazard topped $1 billion for the first time in 2014, as large, cross-border transactions helped the bank climb the advisory rankings.

In its full-year results published on Thursday, Lazard reported a 31% year-on-year rise in revenues from M&A and other advisory work, which includes capital and sovereign advisory mandates, to $1.01 billion.