Sullivan & Cromwell and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the financial services sector during the first quarter (Q1) of 2026 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, a leading intelligence and productivity platform.

An analysis of GlobalData’s Financial Deals Database reveals that Sullivan & Cromwell achieved its leading position in terms of value by advising on $20.7 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 15 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “There was a three-fold jump in the total number of deals advised by Kirkland & Ellis in Q1 2026 compared to Q1 2025 and resultantly, its ranking by volume jumped from 17^th to the top position.

“Similarly, there was more than a five-fold jump in the total value of deals advised by Sullivan & Cromwell, lifting its ranking from 14^th by value in Q1 2025 to top spot in Q1 2026. Four of the five deals advised by Sullivan & Cromwell during Q1 2026 were billion-dollar deals*, including two mega deals valued more than $10 billion. Involvement in these big-ticket deals helped it register a massive jump in terms of value.”

An analysis of GlobalData’s Deals Database reveals that White & Case occupied the second position in terms of value, by advising on $18 billion worth of deals, followed by Clifford Chance with $16.3 billion, Paul, Weiss, Rifkind, Wharton & Garrison with $16.3 billion, and Latham & Watkins with $15.5 billion.

Meanwhile, Latham & Watkins occupied the second position in terms of volume with 14 deals, followed by Simpson Thacher & Bartlett with 13 deals, Paul, Weiss, Rifkind, Wharton & Garrison with 11 deals, and Skadden, Arps, Slate, Meagher & Flom with 10 deals.

*Deals valued more than or equal to $1 billion