Goldman Sachs claimed the top spot among mergers and acquisitions (M&A) financial advisers in the North America region by total deal value during the first three quarters of 2026, according to the latest data from GlobalData’s comprehensive deals database. Meanwhile, Houlihan Lokey maintained its dominant position at the forefront of the regional rankings by total deal volume, successfully advising on the highest number of transactions during the nine-month period.
The newly released figures highlight the ongoing strategies of Wall Street’s premier investment banks as they navigate a shifting corporate landscape marked by high-stakes transactions and persistent economic adjustments. Across the board, advisory powerhouses leveraged their deep industry expertise and capital market access to orchestrate some of the most influential corporate combinations and strategic realignments of the year so far.
According to GlobalData’s tracking, Goldman Sachs advised on transactions with a cumulative value of $510.5bn during the Q1–Q3 2026 period. This remarkable performance secured the firm the highest financial aggregate among all the advisory institutions included in the evaluation. The banking giant’s ability to capture the lion’s share of high-value corporate deals underscored its preeminent role in advising on market-defining transactions across North America.
Houlihan Lokey, on the other hand, cemented its reputation as a powerhouse of transaction volume. The firm advised on a staggering 161 deals during the first three quarters of the year, making it the most active financial adviser by count in the regional market. Despite a minor year-on-year fluctuation in its total deal count, Houlihan Lokey comfortably outpaced its competitors by volume, demonstrating a high-frequency advisory model that consistently captures a substantial slice of middle-market and large-scale corporate activity.
The competitive landscape for total deal value saw fierce rivalry among the top-tier institutions. JPMorgan secured the second position by value, steering corporate mandates worth a combined $359bn. Close behind was Morgan Stanley, which took third place in the value rankings by advising on deals totaling $351.9bn. Further down the league table, Bank of America claimed the fourth spot with an aggregate deal value of $217.6bn, narrowly edging out Wells Fargo, which rounded out the top five by value with $217.5bn in advisory mandates.
When examining the market through the lens of deal volume, the rankings shifted to reflect the diverse operational footprints of the participating firms. Morgan Stanley secured the second position by volume after successfully advising on 119 deals throughout the nine-month window. JPMorgan followed closely in third place by volume, guiding clients through 110 separate transactions. Goldman Sachs demonstrated its versatility by capturing the fourth position in terms of deal volume with 107 transactions, while Jefferies rounded out the upper echelon of the volume table by advising on 91 deals.
Commenting on the dynamics of the North American M&A advisory market, Aurojyoti Bose, lead analyst at GlobalData, provided deeper context into the performance of the leading firms.
"Houlihan Lokey was the top adviser by volume during Q1-Q3 2025 and maintained its lead by this metric during Q1-Q3 2026 as well, despite a year-on-year drop in the total number of deals advised by it. It also stayed well ahead of its peers," Bose observed.
Bose also highlighted the exceptional performance of Goldman Sachs at the top end of the market, noting that the firm capitalized on high-value opportunities to separate itself from the competition.
"Similarly, Goldman Sachs was also the clear winner by value outpacing its peers by a significant margin. It was the only adviser to surpass the $500bn mark in total deal value during Q1-Q3 2026, recording a notable year-on-year jump in value due to its involvement in big-ticket deals," Bose stated.
Further elaborating on the nature of Goldman Sachs’ deal flow, Bose noted that the firm advised on a substantial portfolio of high-impact transactions, which included 17 mega-deals valued at more than $10bn each. This ability to capture outsized mandates not only propelled the firm’s aggregate value well past the half-trillion-dollar threshold but also secured its place among the elite group of institutions achieving triple-digit deal volumes during the period.
The league tables compiled by GlobalData are rooted in rigorous, real-time tracking methodologies. Analysts continuously monitor thousands of corporate websites, advisory firm portals, and other verified public domain sources to capture comprehensive details regarding corporate transactions, including the identification of the specific financial and legal advisers involved. To maintain the highest standard of data integrity and robustness, the research team routinely invites leading advisory institutions to submit their proprietary deal data for verification and inclusion.
