KPMG led the field last year ahead of PricewaterhouseCoopers in terms of number of deals, advising on 423 against 415 for PwC.PwC however advised on deals of bigger value.
KPMG corporate finance managing partner John Griffith-Jones said: 'We have had a great year and what is interesting is that European activity has contributed around 45% of our revenue, so that is growing faster than the UK.'
KPMG's 750 staff in Europe - including 400 in the UK - enjoy a similar success-related pay structure to investment banks, with handsome bonuses on offer.
Performance-related pay does not apply for work undertaken for companies reporting to the US Securities and Exchange Commission, which forbids this type of payment.
Deloittes' corporate finance business grew by 31% last year while Ernst &Young corporate finance reported a 22 per cent rise in fee income.
PwC, with 265 UK staff working in corporate finance, is also expected to announce strong growth when its year-end accounts are announced next summer.Griffith-Jones denied that the success of the dealmakers would lead to jealousy among other staff, as he said other departments become involved in the deals, such as tax and due diligence.
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