GlobalData, a leading data and analytics company, has revealed its league tables for top 10 legal advisers by value and volume in global financial services sector for 2020 in its report, Global and FS M&A Review & Legal Adviser League tables.

According to GlobalData’s M&A report, a total 3,314 M&A deals were announced in the sector during 2020, marking an 8.9% decrease over the 3,636 deals announced in 2019. The deal value decreased by 13.7% from $523bn in 2019 to $451bn in 2020.

Top Advisers by Value and Volume

Cleary Gottlieb Steen & Hamilton and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the global financial services sector for 2020 by value and volume, respectively. Cleary Gottlieb Steen & Hamilton advised on 18 deals worth $98.7bn, which was the highest value among all advisers. Meanwhile, Kirkland & Ellis led in volume terms having advised on 66 deals worth $19.6bn.

GlobalData lead analyst Aurojyoti Bose said: “Kirkland & Ellis was the only company tracked that managed to advise on more than 50 deals. However, due to involvement in low-value transactions, the company failed to surpass the $20bn mark. Surprisingly, it also did not find a place among the top ten advisors by value.”

“Meanwhile, Cleary Gottlieb Steen & Hamilton advised on less than 20 deals but was involved in four mega deals valued more than or equal to $10bn, which helped it occupy the top spot by value. Interestingly, Cleary Gottlieb Steen & Hamilton did not feature in the list of top ten advisers by volume.”

Skadden, Arps, Slate, Meagher & Flom occupied the second position, both in terms of value and volume, by advising on 40 deals worth $89bn.

Weil Gotshal & Manges occupied the third position in GlobalData’s ranking of legal advisers for M&As in the global financial services sector by value with 32 deals worth $82.6bn, followed by Latham & Watkins with 27 deals worth $62.3bn.

Willkie Farr & Gallagher occupied the third position by volume with 38 deals worth $28.2bn followed by Weil Gotshal & Manges.

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.