Despite facing formidable competition in a tumultuous year for dealmaking, Goldman Sachs Group Inc. secured its position as the leading provider of merger advice globally for the seventh consecutive year.
The bank clinched a 31% share of the global merger advice market, surpassing JPMorgan Chase & Co., which initially led at the midpoint of the year. Goldman Sachs played a pivotal role in 235 mergers and acquisitions valued at over $671 billion, accounting for a significant portion of the $2.16 trillion in pending and completed transactions worldwide.
Although this figure marked a decline from the record-setting $3.8 trillion in 2021, Goldman Sachs demonstrated resilience and adaptability in navigating diverse sectors and regions. Mark Sorrell, global co-head of mergers and acquisitions for Goldman Sachs, attributed the success to a cohesive and versatile team operating across industries and geographies.
Despite a narrowing lead over JPMorgan this year, Goldman Sachs has steadily expanded its market share against major rivals since 2016.
The bank and its competitors are now gearing up for a potential rebound in dealmaking activities in 2024, anticipating a recovery from the drop-off in deals witnessed in the past year. While the industry experienced significant job cuts due to the slowdown, certain players, including Goldman Sachs, strategically enhanced their market share and workforce in anticipation of a revitalized deals landscape.