Zaoui & Co, the boutique investment bank led by brothers Michael and Yoël Zaoui, experienced a significant boost in profits in 2022 despite a slowdown in the mergers and acquisitions (M&A) market.
The company’s profit more than doubled to £5.1m, a 110% increase from the previous year. However, it fell short of the record-breaking £8.7m profit achieved in 2020.
The bank’s success can be attributed to a surge in advisory fees, which reached £19.1m last year compared to £11.6m in 2021.
This impressive growth in dealmaking fees defied the overall drop in M&A activity during the period.
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