Zaoui brothers’ profits surge 300% on back of megadeal roles

Profits at advisory boutique Zaoui & Co nearly quadrupled last year as the banking brothers landed spots on some key European megadeals.

The Mayfair-based boutique headed by brothers Michael and Yoël Zaoui made £8.7m in profits last year, according to newly-released accounts on companies house, up from £2.3m in the previous 12 months or an increase of 283%. Advisory fees surged from £9.1m in 2019 to £17.5m last year.

The results suggest that 2020 was the best year for Zaoui & Co since it was established in 2013.

The brothers secured a top role on US chipmaker Nvidia’s $40bn bid to buy semiconductor company Arm from Softbank Advisors, which is currently under government scrutiny over security concerns. It also acted as an adviser to the Peugeot family on the carmaker’s $48.4bn merger with Fiat Chrysler.

READ Zaoui brothers plan €300m European blank cheque company

The brothers quit prominent jobs at large investment banks to establish their own boutique in 2013. Michael is a former co-head of European mergers and acquisitions at Morgan Stanley, while Yoël was co-head of global M&A at rival Goldman Sachs.

The firm had 15 employees at the end of 2020 and paid them £6.1m, or an average payment of £409,833. This compares with an average payment of £291,913 in 2019. The Michael and Yoël Zaoui brothers paid themselves £1.5m, the accounts show, up from £900,000 the prior year.

The brothers ranked fourth in a league table of European dealmakers in 2020 compiled by data provider MergerLinks.

To contact the author of this story with feedback or news, email Paul Clarke

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