Despite a mixed 2015 for his own US advisory firm, the chief executive of Greenhill & Co believes American banks and independent advisers remain well placed in the battle for takeover work – and sees little chance of European rivals catching up any time soon.

After year-on-year growth in advisory revenues and group profit during the first and second quarters, advisory revenues at Greenhill almost halved in the third quarter, all but wiping out profits. Founder and chairman Robert Greenhill and colleagues said few deals the firm was working on closed during that period, meaning that completion fees fell.