Morgan Stanley and JP Morgan were the top mergers and acquisitions (M&A) financial advisers in the global financial services sector in the first half (H1) of 2020 based on deal value and volume, respectively, according to GlobalData.
Morgan Stanley advised on 16 deals worth $67bn, which was the highest among all the advisers. JP Morgan led in volume terms having advised on 20 deals worth $31.6bn
GlobalData has published a top ten of financial advisers ranked according to the value of announced M&A deals globally. If value remains the same for multiple advisers, deal volume is given weightage.
GlobalData financial deals analyst Aurojyoti Bose said: “Competition was fierce among Morgan Stanley, Goldman Sachs, Bank of America, JP Morgan and Rothschild & Co for the top position, as these were the only five advisers with double-digit deal volume and deal value over $10bn.
“Interestingly, Morgan Stanley and JP Morgan both advised on some of the same big-ticket deals such as the acquisition of E*TRADE Financial by Morgan Stanley for $13bn and Franklin Resources’ acquisition of Legg Mason for $6.5bn. However, Morgan Stanley’s involvement in the $33.4bn Aon-Willis Towers Watson merger deal helped the firm secure the top spot by value.”
Goldman Sachs occupied the second position by value with 13 deals worth US$65.1bn, followed by Bank of America having advised on 15 deals worth $52.2bn.
Morgan Stanley occupied second position by volume, followed by Bank of America.
The financial services sector saw a decrease of 10.5% in deal value from $206.1bn in H1 2019 to $184.5bn in H1 2020. Deal volume fell by 10.4% from 2,227 to 1,996.
Morgan Stanley, which topped the financial services sector deals league table by value, stood at third position (by value) in GlobalData’s global league table of top 20 M&A financial advisers.
JP Morgan, which topped the financial services sector league table by volume, occupied fourth position (by volume) in the global league table.
GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.
To ensure further robustness to the data, the company also seeks submissions from leading advisers, through adviser submission forms on GlobalData’s website