With the return of the market for initial public offerings in Europe this year, so also comes a heightened level of competition among its participants.

In London, three independent capital markets advisers have been going head-to-head more than others for the rising number of deals: Lazard, Rothschild and STJ Advisors. Each has been trying to make a pitch that it's uniquely suited to help on the deal - and there's little love lost between them.