BMO Capital Markets and Canaccord Genuity Group have emerged as the leading financial advisers for mergers and acquisitions (M&A) in the metals and mining sector in 2023 by deal value and volume, respectively, according to GlobalData’s latest financial advisers league table.

The analysis of the database of GlobalData, a leading data and analytics company and the parent of Mining Technology, reveals that BMO Capital Markets advised on transactions worth $27.4bn, positioning it at the forefront of significant industry consolidations.

Canaccord Genuity Group advised on 15 deals throughout the year, leading the sector in terms of deal volume.

BMO Capital Markets secured second place by deal volume with nine transactions, while Allenby Capital matched this volume with nine deals of its own.

Macquarie followed closely with seven deals and Rothschild & Co with six.

In terms of deal value, Goldman Sachs took second spot, advising on deals amounting to $25bn.

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By GlobalData

Bank of America was not far behind with advisory deals totalling $22.6bn. Barclays and Lazard also featured prominently, advising on deals worth $21.8bn and $20.3bn, respectively.

GlobalData lead analyst Aurojyoti Bose said: “Canaccord Genuity Group registered significant growth in the volume of deals advised and ranking by this metric in 2023 compared with the previous year.

“In fact, it was the only adviser to hit the double-digit deal volume in 2023.

“Meanwhile, BMO Capital Markets was the top adviser by value in 2022 and managed to retain its leadership position in 2023 as well. The total value of deals advised by it jumped by more than double-fold in 2023 compared with 2022. Apart from leading by value, BMO Capital Markets also occupied the second position by volume during the year.”

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers.