Despite the rise in mega-deals towards the tail end of 2013, last year yielded the lowest overall value for UK M&A activity since 2001.

A number of high profile private equity buy-outs in the UK pushed several firms into the top 10 global advisers by value, with Simpson Thacher & Bartlett taking the number one spot, followed by Jones Day and Davis Polk. All three firms were up on their 2012 positions.