BMO Capital Markets and Rand Merchant Bank have emerged as the leading financial advisers in the Middle East and Africa (MEA) region in the financial services sector for mergers and acquisitions (M&A) in terms of value and volume, respectively, in 2024, according to the latest financial advisers league table by GlobalData. 

An analysis of GlobalData’s Deals Database revealed that BMO Capital Markets secured the top position by value, with its involvement in deals worth a total of $8.7bn.

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Rand Merchant Bank, on the other hand, led by volume with ten deals to its credit.

GlobalData lead analyst Aurojyoti Bose said: “Rand Merchant Bank was among the only two advisers with double-digit deal volume in 2024. It registered a jump in the total number of deals advised by it during 2024 compared to the previous year. Resultantly, Rand Merchant Bank’s ranking by volume also improved from the 10th position in 2023 to the top position in 2024. Apart from leading by volume, it also occupied the tenth position by value in 2024.”

“Meanwhile, BMO Capital Markets managed to top the chart in terms of value by advising on only two deals during the year. Its involvement in the $8.7 billion deal for the acquisition of CI Financial by Mubadala Capital played a pivotal role in securing the top position by value.”

Jefferies took the second position by value, with deals amounting to $8.7bn.

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It was followed by Rothschild & Co with $2.4bn worth of deals, HSBC with deals valued at $2.3bn, and Clairfield International with $1.8bn worth of deals.

In terms of deal volume, PwC came in second with ten deals. Rothschild & Co and HSBC both advised on eight deals, and Clairfield International advised on seven.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory company websites and other reliable sources available in 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 of the data, the company also seeks deal submissions from leading advisers.