Key facts
- Goldman Sachs led M&A advisory in EMEA in the first half of 2026 with a 44% market share.
- Total M&A dealmaking in the region reached $676 billion, a 19-year high.
- Goldman Sachs advised on 15 of the 20 largest deals in EMEA.
- JPMorgan was the second-largest advisor with a 35% market share.
- Rothschild advised on the highest number of deals (163).
Goldman Sachs significantly increased its share of mergers and acquisitions advisory work in Europe, the Middle East, and Africa during the first half of 2026, achieving its largest market slice in the region in nearly a decade, according to LSEG data. The total value of deals in EMEA surged to $676 billion, more than doubling 2025 levels and marking a 19-year high, attributed partly to looser regulatory constraints.
Goldman Sachs advised on 111 deals, accounting for 44% of the total M&A value in EMEA for the January-June period. This represents an increase from 42% in the same period of the previous year and is the bank's highest share since 2018. The firm's dominance was driven by its involvement in 15 of the 20 largest deals in the region, including the approximately $45 billion sale of Unilever's food business to McCormick and TK Elevators' $34 billion combination with Kone.
JPMorgan ranked as the second-largest advisor in the EMEA region, with a 35% market share from 99 announced deals. This narrowed Goldman's lead to 9 percentage points, down from 11 percentage points in the first half of 2025. Globally, Goldman Sachs holds a 38% market share in M&A advisory.
While Rothschild advised on a greater number of deals (163), Goldman's lead was secured through its involvement in higher-value transactions. The market remains volatile, with bankers noting that league tables could shift if deals fail to close. Last year's M&A activity was impacted by uncertainty surrounding the return of U.S. President Donald Trump to the White House. Despite market turbulence, companies are adopting a long-term strategic perspective, investing for future decades rather than just the immediate quarters, according to Carsten Woehrn, co-head of M&A in EMEA at Goldman Sachs.