Citi and Evercore have emerged at the top financial advisers in the oil and gas sector for mergers and acquisitions (M&A) in the first half (H1) of 2024, leading in value and volume, respectively, according to the latest financial advisers league table from GlobalData.
GlobalData, a leading data and analytics company and the parent company of Offshore Technology, ranks advisers by the value and volume of M&A deals on which they advised.
As per the analysis of GlobalData’s Deals Database, Citi secured top position by advising on deals valued at $48bn.
At the same time, Evercore led in deal volume by providing advisory services for a total of 14 deals.
GlobalData lead analyst Aurojyoti Bose said: “While both Citi and Evercore showcased year-on-year improvement in terms of value and volume, respectively, in H1 2024, the jump in total deal value was massive for Citi.
“The total value of deals advised by Citi registered more than a tenfold jump during H1 2024 compared with H1 2023. Consequently, its ranking by value also took a big leap from 17th position in H1 2023 to the top position in H1 2024.
“During the review period, Citi advised on five billion-dollar deals, which also included two mega deals valued at more than $10bn. Involvement in these big-ticket deals helped Citi register a massive jump in terms of value as well as its ranking by this metric.
“Meanwhile, Evercore’s ranking by volume improved from fifth position in H1 2023 to the top position in H1 2024. Apart from leading by volume, it also occupied the third position by value during the review period.”
JP Morgan ranked second in deal value, advising on $41.8bn worth of transactions. It was followed by Evercore with $37.2bn, Morgan Stanley with $36.1bn and Jefferies with $35.7bn.
In terms of deal volume, Jefferies ranked second with 11 transactions, followed by RBC Capital Markets with nine, Barclays with eight and Wells Fargo with 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.
