Banks by avg deal size in 2025 (AI-powered rankings)

Using FactSet's league tables for global M&A (source below), excluding outlier boutiques with less than 50 deals. Told Claude to calculate it.

FINANCIAL ADVISORS RANKED BY AVERAGE DEAL SIZE (50+ TRANSACTIONS)

Rank | Financial Advisor              | Avg Deal ($M) | Total Value ($M) | Deals
-----|-------------------------------|---------------|------------------|------
1    | Wells Fargo & Co.             | $7,193.7      | $446,007.5       | 62
2    | Centerview Partners           | $4,532.7      | $475,935.4       | 105
3    | Citigroup                     | $3,663.0      | $604,497.0       | 165
4    | Morgan Stanley                | $3,407.1      | $981,251.3       | 288
5    | Evercore, Inc.                | $3,258.6      | $557,215.8       | 171
6    | JPMorgan Chase & Co           | $3,257.9      | $1,176,120.5     | 361
7    | Barclays Plc                  | $3,085.1      | $416,589.9       | 135
8    | Goldman Sachs & Co.           | $3,068.6      | $1,144,581.0     | 373
9    | BofA Securities               | $3,063.7      | $640,120.0       | 209
10   | BMO Capital Markets           | $1,839.3      | $128,750.4       | 70
11   | Deutsche Bank AG              | $1,734.0      | $190,738.0       | 110
12   | UBS Group AG                  | $1,640.1      | $295,214.2       | 180
13   | Moelis & Co.                  | $1,638.4      | $204,805.4       | 125
14   | RBC Capital Markets           | $1,533.0      | $196,220.3       | 128
15   | Guggenheim Capital LLC        | $1,341.0      | $95,221.0        | 71
16   | Lazard                        | $1,250.8      | $216,388.8       | 173
17   | Banco Santander SA            | $1,114.3      | $61,288.7        | 55
18   | Jefferies LLC                 | $1,089.5      | $235,340.8       | 216
19   | Toronto-Dominion Bank         | $1,054.4      | $82,244.7        | 78
20   | Mizuho Financial Group        | $1,036.6      | $112,987.8       | 109
21   | Nomura Securities Co.         | $1,027.5      | $87,340.7        | 85
22   | BNP Paribas SA                | $1,021.8      | $89,914.1        | 88
23   | Natixis SA                    | $614.1        | $43,597.9        | 71
24   | Rothschild & Co               | $405.8        | $148,520.9       | 366
25   | Stifel/KBW                    | $364.1        | $59,350.4        | 163
26   | Daiwa / DC Advisory           | $328.2        | $43,328.6        | 132
27   | KPMG International            | $209.7        | $78,623.9        | 375
28   | Houlihan Lokey, Inc.          | $165.9        | $54,262.2        | 327
29   | Ernst & Young Global          | $153.2        | $96,363.8        | 629
30   | PricewaterhouseCoopers        | $138.5        | $72,720.8        | 525

Source:

14 Comments
 

Top Tier/Top 10: The top and mid BBs and top EBs 

(GS, MS, JPM, CVP, EVR, BOFA, CITI)

Top 10-20: Low/Semi BBs and weaker EBs 

(DB, BMO, UBS, RBC, LAZ, MOE, GUGG)

Outside Top 20: MMs and foreign balance-sheet banks

(JEF, TD, Mizuho, BNP Paribas, Nomura)

 

M Klein with 1 deal worth $103bn??? And who tf are redbird advisors

 

FactSet has US-only and NA-only tables right? This is a questionable ranking methodology to begin with but you're punishing banks that operate in smaller markets heavily here.

 

You are slow. The implication is that it would be better to use FactSet's US-only table since this counting small deals in Poland or whatever punishes banks who do deals in Poland. 

 

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Career Advancement Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

November 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

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November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

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