Best TMT M&A banks in London (2025)

I wanted to start a thread on the best technology banks in London in 2025, I think the landscape is changing here and interested to see how people compare the EBs vs BBs and where they see some of the more specialised technology focused boutiques. I work for a highly specialised tech EB so keen to here people's thoughts!

I am also an investment banking coach, helping people get into investment banking either from graduate or other professional backgrounds e.g. big 4 and audit, so if you have any interest in sessions with me, please let me know :) 

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Usual BB/EB suspects (inc. Q and Raine) have good deal flow in TMT so will focus on MM in no particular order. Will caveat that balance sheet banks tend to do better in telecoms anecdotally 

Technology: Arma; RJ; Houlihan; Gugg; Jeff; WB; Nomura (better for business services) FT Partners (obviously fintech, London office does good deals); GPB + Equiteq + Silverpeak + Torch (all 4 focus on LMM)

Media: As above but particularly Arma + RJ + Houlihan + Jeff; GPB + JEGI Clarity do very well in the mid- to lower mid-market here as no real specialists otherwise; Lincoln also does some work in the LMM but lose on a lot of mandates so not a strong player

Telecoms: Arma; Houlihan; Gugg; Liontree; Torch (for LMM) - probably missing some names here but I know that those have strong telecom deal flow

 

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