Davis Polk & Wardwell and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal adviser in the financial services sector during the first three quarters (Q1-Q3) of 2023 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 Financial Deals Database reveals that Davis Polk & Wardwell achieved this leading position in terms of value by advising on $17.3 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 39 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The number of deals advised by Kirkland & Ellis increased in Q1-Q3 2023 compared to Q1-Q3 2022. Resultantly, it went ahead from occupying the second position by volume in Q1-Q3 2022 to lead the table in Q1-Q3 2023.

“Similarly, there was also a massive jump in the total value of deals advised by Davis Polk & Wardwell in Q1-Q3 2023 compared to Q1-Q3 2022. Davis Polk & Wardwell advised on four billion-dollar deals*, which included one mega deal valued more than $10 billion during Q1-Q3 2023. The involvement in these big-ticket deals helped it occupy the top spot by value.”

Debevoise & Plimpton occupied the second position in terms of value, by advising on $16 billion worth of deals, followed by  Simpson Thacher & Bartlett with $13.9 billion, Kirkland & Ellis with $12.5 billion, and Skadden, Arps, Slate, Meagher & Flom with $9.8 billion.

Meanwhile, Alston & Bird occupied the second position in terms of volume with 31 deals, followed by Skadden, Arps, Slate, Meagher & Flom with 30 deals, Giordano Halleran & Ciesla PC with 21 deals, and CMS with 20 deals.

*Deals valued ≥ $1 billion