Boutique investment bank Perella Weinberg increased UK dealmaker numbers by 40% last year as larger rivals culled staff amid a slump in M&A activity.

The investment bank increased dealmaker numbers in its London office to 134 last year, according to newly-released accounts, an increase of 40%. The 2022 hiring spree came around a year after many of its larger rivals shelled out huge guarantees and salary hikes to recruit top talent amid an unprecedented 2021 fee bonanza.