Reflecting on 2023: A Year of Tectonic Shifts in M&A Landscape
As we step into 2024, it’s imperative to look back at the transformative year that was 2023 in the global M&A arena. The year witnessed a significant dip in global M&A activity, decreasing over 20% from 2022 and hitting the lowest point in a decade. This downturn was accompanied by notable changes in the global Financial Advisor Rankings, with major shifts observed not just globally, but specifically in Europe and Germany.
In a break from tradition, J.P. Morgan usurped Goldman Sachs’ long-held dominance in Germany and Europe’s M&A transaction volume. In a remarkable feat, J.P. Morgan outdid Goldman Sachs in Germany by about €15.6 billion in deal volume and led with five additional transactions. Morgan Stanley made a notable leap to third place in the German rankings, trailing closely behind the second place.
On the European stage, the top three positions echoed this trend with J.P. Morgan, Goldman Sachs, and Morgan Stanley at the forefront.
The transaction sector also experienced significant shifts. Carlsquare made headlines by leading the German M&A market with 34 completed transactions, surpassing Rothschild & Co. Houlihan Lokey, once a frontrunner, now shares the third spot with Rothschild & Co, each completing 33 transactions. A noteworthy mention is the meteoric rise of KBS Corporate Finance, soaring from 303rd place in 2022 to the 5th position with 135 deals in 2023.
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