Key Takeaways:
Goldman Sachs seized its largest share of European, Middle Eastern and African M&A advisory work in nearly a decade during the first half of 2026, as global dealmaking surged to a record $3.16 trillion.
Goldman Sachs captured its biggest slice of EMEA mergers and acquisitions advisory in almost a decade during the first six months of 2026, LSEG data show, as global deal volume jumped 44% year-on-year to $3.16 trillion — the highest half-year total on record.
"The return of megadeals above $10 billion is reshaping the competitive landscape for advisory work," Melissa Sawyer, global head of M&A at Sullivan & Cromwell, said in a Bloomberg interview. "Large corporates are pursuing transformative transactions with greater confidence than we have seen in several years."
Global M&A volume of $3.16 trillion in the first half of 2026 marked a 44% increase from the same period last year, according to LSEG. Megadeals exceeding $10 billion continued to drive activity, while investment banking fee pools expanded roughly 50% year-on-year, data from the financial analytics provider show. US investment banks dominated the global dealmaking fee league tables during the period.
The surge in EMEA dealmaking reflects improved corporate confidence across the region, with companies pursuing acquisitions to gain scale, access new markets and restructure portfolios. The previous comparable period of Goldman dominance in EMEA M&A advisory was in 2017, when a wave of cross-border consolidation similarly concentrated fee pools among Wall Street's largest firms. For the second half of 2026, the key question is whether the pace can be sustained as financing costs remain elevated and antitrust regulators in Brussels and London intensify scrutiny of large transactions in technology, healthcare and energy.
Goldman's performance in EMEA mirrors a broader trend of market share consolidation among top-tier investment banks. Rivals including Morgan Stanley, JPMorgan Chase and Barclays also posted strong advisory revenue in the period, though none matched Goldman's share of the EMEA wallet. The fee pool expansion of roughly 50% year-on-year reflects both higher deal volume and larger average transaction sizes, as corporations and private equity firms deploy record levels of dry powder.
This article is for informational purposes only and does not constitute investment advice.
