JP Morgan and UBS have emerged as the top financial advisers in the metals and mining sector for mergers and acquisitions (M&A) by deal value in the first quarter (Q1) of 2024, revealed 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, places both banks at the forefront, with each advising on deals worth $2.2bn.

Bank of America followed closely, securing deals amounting to $1.7bn.

Goldman Sachs and Jefferies shared fourth position, each advising on transactions valued at $970m.

In terms of deal volume, Eight Capital was the leader, having advised on a total of two deals valued at $272m.

Grant Samuel Group and RBC Capital Markets followed, with advisory on two deals worth $178m and $60m, respectively.

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JP Morgan and UBS jointly held the fourth position by volume with one deal each.

GlobalData lead analyst Aurojyoti Bose said: “Eight Capital, apart from leading by volume in Q1 2024, also occupied the ninth position by value.

“Meanwhile, JP Morgan and UBS managed to top by value by advising on one deal. The involvement in the $2.2bn AlcoaAlumina M&A deal helped these two firms top the chart by value.”

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.