Banking & Finance US banks lead pack for M&A advice in Middle East By Matt Smith October 25, 2023 Reuters/Andrew Kelly Signage at Bank of America Tower in Manhattan. It topped the GlobalData list Bank of America advised on $9.9bn of deals JP Morgan and Citi also in top 3 Rothschild & Co worked on 7 deals US banks have been the top advisers for mergers and acquisitions in the Middle East and Africa this year, research has found. Bank of America advised on deals with a combined value of $9.9 billion in the first nine months of 2023, followed by JP Morgan at $7.6 billion and Citi at $6.3 billion. “Bank of America registered a massive jump in the total value of deals” in January to September 2023, compared to the same period in 2022, said Aurojyoti Bose, a lead analyst at GlobalData. Aream & Co, a London-based investment bank that specialises in technology, came fourth thanks to advising on a single $4.9 billion deal. Another London-headquartered bank, Rothschild & Co, made it into the top 10 by value at No 9 – and was No 1 in GlobalData's ranking for number of merger advice deals in the first nine months of the year. It advised on seven agreements. Next came India’s Java Capital, Ernst & Young, Australia’s Macquarie and South Africa’s Standard Bank Group, which each worked on four deals. Five banks advised on three deals each: Bank of America, Lazard, GIB Capital, FTI Capital Advisors (DIFC) and Nedbank Group.
