Integrated investment banks have been responsible for a proliferation in restructuring since the start of the year as they see opportunities to cross-sell investment banking products. Credit Suisse set up its restructuring team in January, led by Marisa Drew, co-head of global markets in Europe, and Craig Klaasmeyer, co-head of the bank’s European leveraged finance business.

In May, Japanese bank Nomura hired Matthew French, the head of European restructuring at UBS, as co-head of its own team for Europe, the Middle East and Africa. French started this month and will work alongside Adrian Fisk reporting to Adrian Mee, Nomura's head of M&A in the Emea region.