PJT Partners increased revenues by almost a quarter during the three months to the end of September — confirming its place among the handful of boutiques in mergers and acquisitions advice profiting from the chastening of some larger companies so far this year.

The independent investment bank, founded four years ago by former Morgan Stanley dealmaker Paul Taubman, posted revenues of $174.2m for the quarter, it said in a results statement on October 29. This was up 24% on the same period in 2018. Profits rose 20% to $14.8m.