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JPMorgan tops H1'18 M&A rankings for asset management, i-banking sectors

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JPMorgan tops H1'18 M&A rankings for asset management, i-banking sectors

Editor's note: S&P Global Market Intelligence has reclassified industries according to the Global Industry Classification Standard. The league tables data dispatches are now based on the new industry classification and are not comparable with 2017 and prior league table data dispatches.

Asset management and investment banks, brokers and capital markets

Two multi-billion-dollar deals in the second quarter pushed J.P. Morgan Securities LLC to the top of the adviser rankings for the asset management, investment banks, brokers and capital markets sectors for the first half of 2018, according to S&P Global Market Intelligence's league table rankings.

In the second quarter, J.P. Morgan, along with Scotia Capital Inc., advised Bank of Nova Scotia on its pending $2.01 billion acquisition of MD Financial Management Inc. J.P. Morgan also served as one of the advisers to Hellman & Friedman LLC on its pending $3.02 billion acquisition of Financial Engines Inc.

Year-to-date through June 30, the JPMorgan Chase & Co. unit has earned $5.03 billion in deal credit from three deals in the asset management, investment banks, brokers and capital markets space.

J.P. Morgan Securities, Sandler O'Neill & Partners LP, Credit Suisse (USA) Inc. and Broadhaven Capital Partners LLC led the number-of-deals league table for the asset management, investment banks, brokers and capital markets sectors for the six months ended June 30 with three deals each.

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Specialty finance and mortgage REIT

Morgan Stanley's work on one M&A transaction in the specialty finance and mortgage REIT space during the second quarter helped the investment bank take first place in the sectors' financial adviser deal value league table for the first half of 2018.

In the second quarter, Morgan Stanley served as the sole adviser to Franklin American Mortgage Co. Inc. on its pending $511 million sale to Citizens Bank NA. During the six months ended June 30, Morgan Stanley earned $4.00 billion in deal credit from four M&A deals. Citigroup Global Markets Inc., which did not land a specialty finance or mortgage REIT M&A deal in the second quarter, ranked second by deal value through the first half of 2018 with two transactions that have a cumulative deal value of $3.36 billion.

In the number-of-deals league table, five investment banks — Morgan Stanley, Houlihan Lokey Inc., Keefe Bruyette & Woods Inc., Sandler O'Neill & Partners and Hovde Group LLC — tied for first place in the specialty finance and mortgage REIT M&A space in the first half of 2018 with four deals each.

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Financial technology and payments

For the six months ended June 30, Morgan Stanley secured the top spot in the financial technology and payments M&A deal value league table thanks in part to its work on two significant transactions announced in the second quarter.

The investment bank was the sole adviser to Verscend Technologies Inc. in its pending $4.36 billion acquisition of Cotiviti Holdings Inc. Morgan Stanley was also one of the sell-side advisers in IHS Markit Ltd.'s pending $1.86 billion acquisition of Ipreo Holdings LLC. Morgan Stanley finished the first two quarters of 2018 with a deal credit of $28.65 billion from four M&A deals.

Raymond James & Associates Inc. topped the number-of-deals league table in the financial technology and payments space with six M&A assignments in the first half of 2018.

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