BofA, RBC top mining M&A adviser rankings

Bank of America and RBC Capital Markets were the top mergers and acquisitions (M&A) financial advisers in the metals and mining sector during the first half 2024, GlobalData says in a new report.

The UK-based data analytics firm compiled a list of the top M&A financial advisers in the industry for the six-month period, with BofA leading the way in deal value at US$5.4 billion. RBC advised on the most deals, with six transactions totalling over US$1.6 billion.

Lazard, which did not make the rankings for the first quarter, came in second place in deal value at US$3.8 billion. JPMorgan, the top adviser in the first quarter by deal value, had a quieter second quarter and fell to third place at US$2.4 billion.

UBS, which went neck and neck with JPMorgan in Q1, finished fourth for H1 2024, while Piper Sandler rounded out the top 5.

In terms of deal volume, RBC outperformed its rivals Cormark Securities and BMO Capital Markets, both of which advised on four deals. Macquarie and Argonaut PCF followed with three deals each.

“RBC Capital Markets registered a massive jump in its ranking by volume in the first half of 2024 compared to the first half of 2023,” GlobalData lead analyst Aurojyoti Bose said in a press release.

“It went ahead from 43rd position by volume in  2023 to top the chart by this metric in first-half 2024. Apart from leading by volume, RBC Capital Markets also occupied the eighth position by value during first-half 2024.

“Meanwhile, Bank of America, apart from leading by value, also occupied seventh position by volume in first-half 2024. Despite a year-on-year decline in the total value of deals advised, Bank of America’s ranking in terms of value improved from the third position in first-half 2023 to the top spot in first-half 2024.”