In the first half of 2024, JPMorgan Chase led global M&A revenue with $1.41 billion, closely followed by Goldman Sachs at $1.40 billion and Morgan Stanley at $960 million.

These three firms, JPMorgan, Goldman Sachs, and Morgan Stanley, dominated both global and U.S. M&A revenue and deal value.

Despite a year-over-year increase, the total value of global M&A deals rose by 12% to $1.22 trillion compared to the previous year.

European M&A activity experienced a notable boost, with total announcements in Q2 2024 rising 65% quarter-over-quarter and 25% year-over-year to $182.9 billion.

Goldman Sachs advised on the highest value of global deals, completing 201 transactions totaling $498.8 billion in the first half of 2024.

However, quarterly totals remain significantly below the $1 trillion mark seen in 2021.

Global M&A activity in Q2 2024 saw 9,719 announced transactions, which was an increase from Q1 but a decrease from Q2 2023.

The total transaction value for Q2 2024 was $600.1 billion, down from $621.1 billion in the previous quarter but up from $593.1 billion a year ago.

The muted M&A activity can be attributed to the Federal Reserve's elevated policy rates, which have made financing more expensive.

Following Goldman Sachs, JPMorgan and Morgan Stanley completed 188 deals valued at $411.6 billion and 171 deals worth $396.9 billion, respectively.

In the broader context of global investment banking, JPMorgan also topped the rankings with $3.95 billion in revenue, followed by Goldman Sachs at $3.01 billion and Bank of America at $2.65 billion.