Citi was the top mergers and acquisitions (M&A) financial adviser in the oil & gas sector during the first quarter (Q1) of 2024 by both value and volume, according to the latest financial advisers league table by GlobalData, a leading data and analytics company.
An analysis of GlobalData's Deals Database reveals that Citi achieved this leading position by advising on six deals worth $43.5 billion.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: "Citi registered improvement in the number of deals advised by it during Q1 2024 compared to Q1 2023, whereas there was a massive 10 times jump in terms of value. Resultantly, it's ranking by volume improved from the fifth position in Q1 2023 to the top position in Q1 2024. Meanwhile, it went ahead from occupying the third position by value in Q1 2023 to top the chart by this metric in Q1 2024.
"During Q1 2024, Citi advised on four billion-dollar deals*, that also included two mega deals valued for than $10 billion. Involvement in these big-ticket deals helped Citi register a massive jump in terms of value."
JP Morgan occupied the second position in terms of value, by advising on $39.9 billion worth of deals, followed by Goldman Sachs with $33.4 billion, Jefferies with $28.1 billion, and RBC Capital Markets with $23.4 billion.
Meanwhile, Evercore occupied the second position in terms of volume with six deals, followed by RBC Capital Markets with five deals, Wells Fargo with five deals, and Piper Sandler with five deals.
*Deals valued more than or equal to $1 billion
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