Morgan Stanley and Houlihan Lokey were the top mergers and acquisitions (M&A) financial advisers in the technology, media and telecom (TMT) sector during 2023 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 reveals that Morgan Stanley achieved its leading position in terms of value by advising on $111.4 billion worth of deals. Meanwhile, Houlihan Lokey led in terms of volume by advising on a total of 62 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Morgan Stanley was one of the only two advisers with more than $100 billion in total deal value in 2023. It also witnessed its ranking by value improve from third position in 2022 to the top position in 2023. Its involvement in 19 billion-dollar deals*, including three mega deals valued more than $10 billion, helped Morgan Stanley to top the chart by value in 2023.

“Meanwhile, Houlihan Lokey, which was the top adviser by volume in 2022, retained its leadership position by this metric in 2023 as well. It was the only adviser to have advised on more than 50 deals during the year.”

Goldman Sachs occupied the second position in terms of value, by advising on $100.3 billion worth of deals, followed by UBS with $78.7 billion, JP Morgan with $76.4 billion and Qatalyst Partners with $63.9 billion.

Meanwhile, Rothschild & Co occupied the second position in terms of volume with 46 deals, followed by PwC with 41 deals, KPMG with 40 deals and Lazard with 36 deals.

*Deals valued more than or equal to $1 billion