JP Morgan and Houlihan Lokey were the top mergers and acquisitions (M&A) financial advisers in North America during the first half (H1) 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 Deals Database revealed that JP Morgan achieved the leading position in terms of value by advising on $209.4 billion worth of deals. Meanwhile, Houlihan Lokey led in terms of volume by advising on a total of 93 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Both JP Morgan and Houlihan Lokey were the top advisers by value and volume in H1 2024 and managed to retain their respective leadership positions in H1 2025 as well. Houlihan Lokey just fell little short of hitting triple-digit deal volume during H1 2025.

“Meanwhile, JP Morgan was the only adviser to surpass $200 billion in total deal value during the review period. It advised on 40 billion-dollar deals* during H1 2025 that also included six mega deals valued more than $10 billion. The involvement in these big-ticket deals helped it top the chart by value. Apart from leading by value, JP Morgan also held the second position by volume during H1 2025.”

JP Morgan occupied the second position in terms of volume with 74 deals, followed by Goldman Sachs with 68 deals, Jefferies with 49 deals and Piper Sandler with 49 deals.

Meanwhile, Goldman Sachs occupied the second position in terms of value, by advising on $189.3 billion worth of deals, followed by Morgan Stanley with $156.3 billion, Citi with $153.7 billion and Evercore with $128.4 billion.

*≥ $1 billion