11 Jul 2018

Sullivan & Cromwell on top with 84 deals totalling $259.7 billion

Sullivan & Cromwell tops the latest deals list amongst law firms despite working on 108 fewer deals than its nearest competitor.


Sullivan & Cromwell has taken the number one deal adviser spot amongst law firms in the first half of 2018. The firm has advised on the largest US dollar volume of global mergers, even though it worked on 108 fewer deals than its nearest competitor, Latham & Watkins.

Legal rankings

Based in New York, Sullivan & Cromwell advised on the largest market share (12.5 percent) of global transactions between Jan. 1 and June 30, according to Bloomberg data. A total of 84 deals were valued at a combined $259.7 billion. The firm moved up four spots from the first quarter, when it held a 10.9 percent market share and advised on 42 deals with a $102.1 billion aggregate value. Latham & Watkins is in second place among law firms, with a 12.1 percent market share driven by $251.7 billion in total deal volume. The firm, which ranked eleventh based on first quarter numbers, advised on 192 transactions in the first half of the year. Cleary Gottlieb Steen & Hamilton‘s 12 percent market share and $249.2 billion deal volume put it in third place. The others making uo the top five are Simpson Thacher & Bartlett and Skadden Arps Slate Meagher & Flom, each totalling more than $231 billion in total volume.

Top financial advisers

Morgan Stanley remained the top financial adviser from the first quarter, with 174 deals valued at a total of $623.5 billion and 30 percent market share of global deals. Goldman Sachs comes second with 184 deals worth a collective $522 billion, giving it a 25.1 percent market share. Third comes JPMorgan Chase is third with a 23.5 percent market share, having advised on 166 deals with a combined dollar volume of $489 billion. Citigroup and Evercore make up the last of the top five, with Evercore moving up seven places from the first quarter rankings after advising on almost six times the deal value ($48.1 billion) on the previous quarter. Lazard and Rothschild were the only advisers outside the top five to handle over 100 deals in the first half of the year.