JP Morgan and UBS were the top mergers and acquisitions (M&A) financial advisers in the retail sector 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 revealed that JP Morgan achieved its leading position in terms of value by advising on $44.5 billion worth of deals. Meanwhile, UBS led in terms of volume by advising on a total of nine deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Apart from leading by volume during Q1-Q3 2025, UBS also held the fourth position by value, as some of the deals advised by it were big-ticket deals. During Q1-Q3 2025, UBS advised on three billion-dollar deals* that also included a mega deal valued more than $20 billion.

“Meanwhile, JP Morgan registered a massive jump in the total value of deals advised by it during Q1-Q3 2025 compared to Q1-Q3 2024. It is noteworthy that all the eight deals advised by it during the review period were billion-dollar deals, including a mega deal valued more than $20 billion.”

Goldman Sachs occupied the second position in terms of value, by advising on $31.5 billion worth of deals, followed by Citi with $29.2 billion, UBS with $28.4 billion, and Wells Fargo with $26.3 billion.

Meanwhile, JP Morgan occupied the second position in terms of volume with eight deals, followed by Generational Group with eight deals, Bank of America with six deals, and Ernst & Young and Kerrigan Advisors jointly occupying the fifth position with six deals each.

*Valued more than or equal to $1 billion