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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 financial services sector during Q1 2025. See the rankings and findings below.
Financial Advisers
Citi and Houlihan Lokey top M&A financial advisers in financial services sector in Q1 2025
Citi and Houlihan Lokey were the top mergers and acquisitions (M&A) financial advisers in the financial services sector during the first quarter (Q1) of 2025 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, which ranks financial advisers by the value and volume of M&A deals on which they advised.
Based on its Deals Database, the leading data and analytics company has revealed that Citi achieved its leading position in terms of value by advising on $16.9 billion worth of deals. Meanwhile, Houlihan Lokey led in terms of volume by advising on a total of 12 deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “During Q1 2025, Houlihan Lokey was the only adviser to hit double-digit deal volume. There was a notable improvement in the total number of deals advised by it during Q1 2025 compared to Q1 2024. Resultantly, it went ahead from occupying the 19th position by volume in Q1 2024 to top the chart by this metric in Q1 2025.
“Meanwhile, Citi also registered improvement in terms of value, as most of the deals advised by it during Q1 2025 were big-ticket deals. Resultantly, its ranking by value also improved from the 11th position in Q1 2024 to the top position in Q1 2025. Four of the five deals advised by Citi during Q1 2025 were billion-dollar deals* that also included one mega deal valued more than $10 billion. Apart from leading by value, Citi also occupied the seventh position in terms of deal volume during Q1 2025.”
An analysis of GlobalData’s Deals Database reveals that JP Morgan occupied the second position in terms of value, by advising on $16.4 billion worth of deals, followed by Goldman Sachs with $15 billion, UBS with $6.2 billion, and Morgan Stanley with $5.3 billion.
Meanwhile, Piper Sandler occupied the second position in terms of volume with nine deals, followed by JP Morgan with eight deals, UBS with seven deals, and PwC with seven deals.
*Valued more than or equal to $1 billion
Legal Advisers
Paul, Weiss, Rifkind, Wharton & Garrison and Debevoise & Plimpton top M&A legal advisers in financial services sector during Q1 2025
Paul, Weiss, Rifkind, Wharton & Garrison and Debevoise & Plimpton were the top mergers and acquisitions (M&A) legal advisers in the financial services sector during the first quarter (Q1) of 2025 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, which ranks legal advisers by the value and volume of M&A deals on which they advised.
Based on its Deals Database, the leading data and analytics company has revealed that Paul, Weiss, Rifkind, Wharton & Garrison achieved its leading position in terms of value by advising on $12 billion worth of deals. Meanwhile, Debevoise & Plimpton led in terms of volume by advising on eight deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “There was an improvement in the total number of deals advised by Debevoise & Plimpton in Q1 2025 compared to Q1 2024. Resultantly, its ranking by volume also improved from the 11th position in Q1 2024 to the top position in Q1 2025. Apart from leading by volume in Q1 2025, Debevoise & Plimpton also held the ninth position by value.
“Meanwhile, Paul, Weiss, Rifkind, Wharton & Garrison saw its ranking by value improve from the sixth position in Q1 2024 to the top position in Q1 2025 even though it experienced a year-on-year drop in the total value of deals advised. Apart from leading by value, Paul, Weiss, Rifkind, Wharton & Garrison also held the fifth position by volume in Q1 2025.
An analysis of GlobalData’s Deals Database reveals that Wachtell, Lipton, Rosen & Katz occupied the second position in terms of value, by advising on $12 billion worth of deals, followed by Bradley Arant Boult Cummings with $12 billion, Skadden, Arps, Slate, Meagher & Flom with $5.2 billion, and Chiomenti Studio Legale with $4.5 billion.
Meanwhile, Simpson Thacher & Bartlett occupied the second position in terms of volume with eight deals, followed by Alston & Bird with eight deals, Wachtell, Lipton, Rosen & Katz with seven deals, and Paul, Weiss, Rifkind, Wharton & Garrison with six deals.
