Cravath Swaine & Moore and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the financial services sector during the first quarter (Q1) of 2024 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database revealed that Cravath Swaine & Moore achieved the leading position in terms of value by advising on $38.6 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 13 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Kirkland & Ellis, which was the top adviser in terms of volume Q1 2023 also, managed to retain its leadership position by this metric in Q1 2024 as well. In fact, it was the only adviser with double-digit deal volume in Q1 2024.

“Meanwhile, Cravath Swaine & Moore experienced a massive jump in total value of deals advised by it as well as its ranking by value in Q1 2024 compared to Q1 2023. The involvement in $35.3 billion Capital One–Discover Financial Services M&A deal helped it in registering a jump in total value and its ranking.”

Wachtell, Lipton, Rosen & Katz occupied the second position in terms of value, by advising on $38.6 billion worth of deals, followed by Sullivan & Cromwell with $35.6 billion, Debevoise & Plimpton with $28 billion and Clifford Chance with $16.2 billion.

Meanwhile, Alston & Bird occupied the second position in terms of volume with eight deals, followed by Skadden, Arps, Slate, Meagher & Flom and Luse Gorman PC with seven deals, and Allen & Overy with five deals.