Revenues at Ondra Partners, the City advisory firm started by former Lehman Brothers bankers, fell by 61% in the 12 months to the end of March, as the departure of a founder and a decline in completed deals took their toll.

The London-based advisory boutique generated revenues of £14.7m, down from £38.1m a year earlier, according to accounts filed with the UK’s Companies House. The firm made a profit of £2.1m, down from £17.8m in 2017.