Bank of America has led the financial advisers rankings for construction sector mergers and acquisitions (M&A) in the first quarter (Q1) of 2025, both in terms of value and volume, according to the latest league table published by data and analytics company GlobalData.

An analysis of GlobalData’s Deals Database found Bank of America leading with advisory on four deals totalling $12.1bn.

Goldman Sachs secured the second spot by value through advisory on deals valued at $12bn. It was followed by Lazard and JP Morgan at $11.5bn each, and Jefferies at $8.8bn.

GlobalData lead analyst Aurojyoti Bose said: “There was a year-on-year (YOY) improvement in the total volume and value of deals advised by Bank of America during Q1 2025. Resultantly, it went ahead from occupying the 31st position by volume in Q1 2024 to top the chart by this metric in Q1 2025. Bank of America’s ranking by value also jumped from 14th to the top position during this period.”

Generational Group ranked second in terms of volume, having advised on four deals. It was followed closely by Goldman Sachs, Lazard, and Morgan Stanley at three deals each.

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.

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