Zaoui Capital, the advisory firm set up last year by brothers Michael and Yoel Zaoui – two of the most successful investment bankers of the past decade – has won approval from the Financial Services Authority to conduct regulated business, and is on the lookout for junior staff.

Last Wednesday, the firm was listed as having approval from the Financial Services Authority to conduct regulated activities and has, according to sources, been looking to put together a so-called engine room - a pool of more junior staff to work on data crunching, pitchbooks and deal documentation. Michael and Yoel have been holding talks with a number of potential candidates, ranging from analysts and associates up to vice-president and director level, according to two sources familiar with those involved.