Barclays was the leading financial adviser in financial services mergers and acquisitions during the first quarter of 2026 by deal value, while Houlihan Lokey was first by deal count, according to GlobalData’s latest league table.
Data from GlobalData’s Financial Deals Database showed Barclays advised on transactions worth $31.4bn in the quarter
Houlihan Lokey worked on 15 deals, the highest volume among advisers in the sector. Morgan Stanley was placed second in the value ranking with $27.9bn in advised deals. Goldman Sachs followed with $26.8bn, ahead of Lazard on $25.6bn and JPMorgan on $25.1bn.
In the volume table, Goldman Sachs was second with 11 deals. Piper Sandler, Stifel/KBW and Raymond James Financial shared the next positions, each advising on nine deals. GlobalData lead analyst Aurojyoti Bose commented: “Houlihan Lokey was the top adviser by volume in Q1 2025 and managed to retain that in Q1 2026.