Goldman Sachs and Houlihan Lokey emerged as the top financial advisers in North America for mergers and acquisitions (M&A) in 2024 in terms of value and volume, respectively, according to the latest rankings by GlobalData, a leading data and analytics firm.

As per the deal database of GlobalData, Goldman Sachs led by deal value, advising on $298.6bn worth of transactions, while Houlihan Lokey topped by deal volume with 184 transactions.

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GlobalData lead analyst Aurojyoti Bose said: “Houlihan Lokey was the top adviser by volume in 2023 and also managed to retain its leadership position by this metric in 2024 as well. Not only did it top the chart by volume during the year, but it also outpaced its peers by a significant margin, which could also be attributed to 17.9% growth in the total number of deals advised by it during 2024 compared to 2023.”

“Meanwhile, despite a decline in the total value of deals advised by it, Goldman Sachs managed to retain the top position by value from 2023 to 2024. It was just shy of touching $300 billion in total deal value in 2024. During the year, Goldman Sachs advised on 59 billion-dollar deals that also included eight mega deals valued more than $10 billion. Involvement in these big-ticket deals helped it to secure the top position by value. Goldman Sachs, apart from leading by value, also held the second position by volume during 2024.”

Goldman Sachs ranked second for volume with 118 deals, followed by JP Morgan, which also advised on 118 deals but of lower value than the former. Evercore followed with 114 deals, while Jefferies advised on 109.

In terms of deal value, JP Morgan took second place, advising on $296.9bn, followed by Morgan Stanley with $263bn, Citi with $192.2bn, and Evercore with $191.4bn.

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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 of deals from leading advisers.