Independent investment bank Evercore is hiring equity bankers amid a boom in blank cheque companies and initial public offerings after a record first quarter.

The US investment bank posted record first quarter profit of $194.2m, nearly 300% more than the same period last year when dealmaking ground to a halt as the Covid-19 crisis swept across the world. Revenues of $662.3m were up by 55% during what has been a breakneck start to 2021 for investment bankers.