Ken Moelis’s eponymous advisory firm has posted its second record-breaking quarter on the bounce, with average fees earned per client climbing above the $1 million mark in the first three months of 2016.

Moelis & Co published its results for the period on April 27, revealing a 27% year-on-year rise in revenues of $126.4 million. This marked the firm's strongest start to a year on record.