The bonus pool for directors and staff at investment bank Rothschild soared to £153m (€225.9m) in the 12 months to March, double the previous year's amount, as profits doubled to a record £87m on the back of higher fees from mergers and acquisitions.

Profits before tax at NM Rothschild & Sons, the bank's London unit, climbed from £42m in the year to the end of March on a pro forma basis, as revenues from fees and commissions increased by one-fifth to £282.9m.