Bank of America and Rothschild & Co were the top mergers and acquisitions (M&A) financial advisers in Europe during the first three quarters (Q1-Q3) of 2025 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Financial Deals Database reveals that Bank of America achieved the leading position in terms of value by advising on $49.4 billion worth of deals. Meanwhile, Rothschild & Co led in terms of volume by advising on a total of 81 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “There was more than a three-fold year-on-year (YoY) jump in the total value of deals advised by Bank of America during Q1-Q3 2025. Resultantly, its ranking by value also took a leap from the 13^th position to the top spot. During Q1-Q3 2025, Bank of America advised on seven billion-dollar deals*, which also included one mega deal valued around $20 billion. The involvement in these big-ticket deals helped the investment bank register a massive jump in terms of value and top the chart by this metric.

“Meanwhile, Rothschild & Co was the top adviser by volume during Q1-Q3 2024, and despite registering a year-on-year decline, it retained its leadership position by this metric during Q1-Q3 2025. Apart from leading by volume, Rothschild & Co also held the fifth position by value during the period.”

Goldman Sachs occupied the second position in terms of value, by advising on $46.6 billion worth of deals, followed by JP Morgan with $37.4 billion, Barclays with $34.5 billion and Rothschild & Co with $27.4 billion.

Meanwhile, PwC occupied the second position in terms of volume with 74 deals, followed by Clearwater with 74 deals, Houlihan Lokey with 71 deals and Ernst & Young with 69 deals.

*Valued ≥ $1 billion