Morgan Stanley was the top mergers and acquisitions (M&A) financial adviser in the construction sector during the first three quarters (Q1-Q3) of 2026 in terms of both deal value and volume, according to the latest financial advisers league table by GlobalData, a leading intelligence and productivity platform.

An analysis of GlobalData’s Deals Database reveals that Morgan Stanley achieved the leading position having advised on 23 deals worth $114.5 billion.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Morgan Stanley registered year-on-year (YoY) growth in both the volume and value terms during Q1-Q3 2026. However, the growth was more prominent in terms of value and subsequently it emerged as the only adviser to surpass the $100 billion mark in total deal value.

“During Q1-Q3 2026, Morgan Stanley advised on 13 billion-dollar deals* that included four mega deals valued more than $10 billion. The involvement in these big-ticket deals helped it register more than four-fold jump in terms of value.”

Goldman Sachs occupied the second position in terms of value, by advising on $88.3 billion worth of deals, followed by Barclays with $52.8 billion, Bank of America with $51.7 billion and RBC Capital Markets with $36.5 billion.

Meanwhile, JPMorgan occupied the second position in terms of volume with 15 deals, followed by Goldman Sachs with 14 deals, Houlihan Lokey with 13 deals and Generational Group with 13 deals.

*≥ $1 billion