The subsidiary which houses the European business of Moelis & Co posted a 125% increase in revenues last year, helping the firm swing from an operating loss in 2011 to a healthy operating profit in 2012.

Moelis & Company UK LLP filed accounts for the year to December 31 earlier this month, showing revenues of £44.5 million, up from £19.8 million in 2011. At £34.5 million operating costs were also up, increasing around 21% from £28.5 million the previous year.