UBS picked up its third government advisory mandate last weekend when it was called by the German Government to advise on its €8.2bn ($10.5bn) capital injection into Commerzbank, and is expected to pick up more as a growing number of governments plan rescue packages to support their banks.

A team of up to eight bankers worked last weekend to agree the deal before markets opened on Monday, said Hermann Prelle, co-head of investment banking for Europe, the Middle East, and Africa at UBS.