Nmás1, a Spanish financial services group set up by former Morgan Stanley bankers, is expanding to take advantage of the boom in Spanish mergers and acquisitions.

The group last week advertised for associates, vice-presidents and directors for its headquarters in Madrid. Its businesses comprise corporate finance advisory, private equity, alternative investments and asset management. Announced M&A in Spain has jumped from €80bn ($102.6bn) last year to more than €171.6bn this year, according to Mergermarket, a data provider. Nmás1, headed by Santiago Eguidazu, a director of Spanish construction company Ferrovial, has 55 specialists, with the office run by 13 partners, according to its website. In the nine months to the end of September, it was 11th in the league table for Spanish M&A advisory. It worked on 10 deals worth a combined €1.1bn. Nmás1 was formed in 1999 when partners from then Morgan Stanley Dean Witter's Spanish business Asesores Bursátiles left to launch a boutique targeting small to mid-sized Spanish deals. It worked on 14 deals worth almost €1bn in its first year.