Morgan Stanley and JP Morgan, prominent investment banks and financial services providers, held the leading positions in mergers and acquisitions (M&A) advisory within the oil and gas sector during the first half (H1) of this year. This information comes from the most recent financial advisers league table published by data and analytics firm GlobalData.
The examination of GlobalData’s database of financial deals reveals that Morgan Stanley achieved the top spot by value, providing counsel for deals totalling $34.3 billion in the first half of 2023. Simultaneously, JP Morgan excelled in terms of volume, contributing advisory expertise to a total of 13 transactions.
GlobalData’s lead analyst, Aurojyoti Bose, highlighted JP Morgan’s exceptional performance, as one of only two advisers to manage a double-digit deal volume in H1 2023. Notably, JP Morgan experienced an increase in deal volume compared to the same period the previous year, elevating its ranking from fifth in H1 2022 to the leading position in H1 2023 in terms of volume.
Bose further noted the remarkable progress of Morgan Stanley, which underwent a substantial surge in deal value in H1 2023 compared to H1 2022. Consequently, Morgan Stanley advanced from a fifteenth-place position by value in H1 2022 to claim the top rank in this category for H1 2023.
In terms of value, Goldman Sachs secured the second position with advisory involvement in deals worth $29.8 billion. This was followed by Bank of America, contributing to deals amounting to $27 billion, and Perella Weinberg Partners at $24.7 billion. JP Morgan also maintained a strong presence, achieving $24.2 billion.
As for volume, RBC Capital Markets secured the second spot by engaging in 13 deals, while Bank of America, Evercore, and Jefferies each contributed to eight deals.
In the preceding year, RBC Capital Markets had emerged as the primary M&A financial adviser for both value and volume within the oil and gas sector, according to GlobalData’s analysis published in February. Its advisory involvement encompassed 22 deals, totalling a combined value of $25.7 billion in 2022.