GlobalData has announced the latest updates to its Financial and Legal Adviser League Tables, which rank advisers by the total value and volume of merger and acquisition (M&A) deals they advised on in the European region during 2025. See the rankings and findings below.
Financial Advisers
Morgan Stanley and Rothschild & Co top M&A financial advisers by value and volume in Europe in 2025
Morgan Stanley and Rothschild & Co were the top mergers and acquisitions (M&A) financial advisers in Europe during 2025 by value and volume, respectively according to the latest financial advisers league table by GlobalData, a leading intelligence and productivity platform
GlobalData’s Financial Deals Database revealed that Morgan Stanley achieved its leading position in terms of value by advising on $109.5 billion worth of deals. Meanwhile, Rothschild & Co led in terms of volume by advising on a total of 119 deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Morgan Stanley was one of the only two advisers to surpass $100 billion mark in total deal value during 2025. It advised on 24 billion-dollar deals* and its involvement in these big-ticket deals helped it top the chart by value. Morgan Stanley also held the ninth position by volume in 2025.
“Meanwhile, Rothschild & Co was the top adviser by volume in 2024 and managed to retain its leadership position by this metric in 2025 as well, despite a drop in the total number of deals advised by it. In fact, majority of the top 10 advisers by volume experienced a drop in the number of deals. Rothschild & Co also occupied the eighth position by value in 2025.”
An analysis of GlobalData’s Deals Database reveals that Goldman Sachs occupied the second position in terms of value, by advising on $100.3 billion worth of deals, followed by Barclays with $53.5 billion, JPMorgan with $53.3 billion, and Bank of America with $49.4 billion.
Meanwhile, Ernst & Young occupied the second position in terms of volume with 103 deals, followed by PwC with 100 deals, Houlihan Lokey with 95 deals, and Deloitte with 89 deals.
*Deals valued more than or equal to $1 billion
Legal Advisers
Latham & Watkins and CMS top M&A legal advisers by value and volume in Europe in 2025
Latham & Watkins and CMS were the top mergers and acquisitions (M&A) legal advisers in Europe during 2025 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, a leading intelligence and productivity platform.
GlobalData’s Financial Deals Database has revealed that Latham & Watkins achieved its leading position in terms of value by advising on $103.9 billion worth of deals. Meanwhile, CMS led in terms of volume by advising on a total of 286 deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Latham & Watkins and CMS were the clear winners in 2025, having outpaced their peers by a significant margin in terms of value and volume, respectively. While Latham & Watkins was the only adviser to surpass $100 billion mark in deal value, CMS just fell shy from hitting 300 in deal volume.
“Involvement in three mega deals valued at or more than $10 billion played a pivotal role in placing Latham & Watkins in the top spot by value in 2025. It also held the fourth position by volume in 2025.”
An analysis of GlobalData’s Deals Database reveals that A&O Shearman occupied the second position in terms of value, by advising on $83.1 billion worth of deals, followed by White & Case with $65.6 billion, Skadden, Arps, Slate, Meagher & Flom with $65.6 billion, and Freshfields Bruckhaus Deringer with $42.6 billion.
Meanwhile, White & Case occupied the second position in terms of volume with 169 deals, followed by DLA Piper with 165 deals, Latham & Watkins with 148 deals, and A&O Shearman with 135 deals.
