Sullivan & Cromwell and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the financial services sector during the first three quarters (Q1-Q3) 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 Deals Database reveals that Sullivan & Cromwell achieved the leading position in terms of value by advising on $38.9 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 32 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Coincidentally, both Sullivan & Cromwell and Kirkland & Ellis share a common pattern of shift in their positions in value and volume rankings, respectively.

“Kirkland & Ellis saw an improvement in its ranking by volume from second position during Q1-Q3 2025 to the top position during Q1-Q3 2026, even though there was a year-on-year fall in the number of deals advised by it. The decline was the smallest among all the advisers in the top 10 by volume that saw a decrease.

“Similarly, several advisers among the top 10 by value also registered a year-on-year decline. In fact, Sullivan & Cromwell also witnessed a decline in the total value of deals advised by it. However, its ranking by value improved from second to the top position.”

Skadden, Arps, Slate, Meagher & Flom occupied the second position in terms of value, by advising on $37.4 billion worth of deals, followed by Simpson Thacher & Bartlett with $37.4 billion, Ropes & Gray with $33.1 billion, and A&O Shearman with $30.8 billion.

Meanwhile, Simpson Thacher & Bartlett occupied the second position in terms of volume with 29 deals, followed by Latham & Watkins with 27 deals, Alston & Bird with 27 deals, and Skadden, Arps, Slate, Meagher & Flom with 26 deals.