Goldman Sachs loses top spot
Goldman Sachs has been knocked off the top slot in the latest rankings of global mergers and acquisitions advisers.
The investment bank slipped to second place in Dealogic's first-quarter list of those advising on deals announced or completed in the first three months of this year.
Goldman missed out on advice work on the world's top three deals for either the target or bidding company. These deals include AT&T's $39 billion (£24.4 billion) takeover of T-Mobile USA, Duke Energy's $25.8billion offer for Progress Energy and the $23.7 billion Mosaic debt-restructuring deal.
That allowed rival JPMorgan to climb from fifth place to first advising on deals worth a total of $216 billion against Goldman's second place on $164billion. Britain's Barclays Capital rose from ninth to seventh place working on deals worth a total of $100 billion. On European deals alone, top was Credit Suisse then JPMorgan and then Goldman.
In Asia (excluding Japan) Goldman retained top slot and BarCap shot up from 10th place to second.
One area of notable slowdown was in bids for Chinese companies where the value of transactions fell by 15% to $36.8 billion.
The global figures also show the growth of boutique investment banks with the top 25 of them advising on deals worth $203 million - slightly less than JPMorgan but outshining Goldman. Of the five deals exceeding $10 billion, three included a boutique among their advisers.
Overall deal-making in the first quarter rose 15% on a year ago to $731billion.
