MT Advisory in 2016

Two of the industries I’m most interested in are media and telecommunications, which of course comprise two of the three components in traditional TMT grouping. While the first ‘T’ garners the most media attention, the ‘M’ and the second ‘T’ are areas I focus on more.  Accordingly, I took a look at the total number of deals that some of the major investment banks have been advisors on (both for the target and the acquirer). Restricting the results to 2016 deals with enterprise values exceeding $500MM led to the following results:

Media

Telecom

Total

Morgan Stanley

7

2

9

JP Morgan

3 3

6

UBS

2 4 6

Citi

4 1

5

Credit Suisse

5 0

5

Deutsche Bank

2

3 5
Unicredit

4

1

5

BNP Paribas

3 1

4

Goldman Sachs

3

1 4
Barclays

2

1

3

Moelis

2

1

3

RBC

2

1

3

BAML

1 1

2

Centerview

2 0

2

Evercore

0

2

2

Lazard

2

0

2

BMO

0

1

1

Greenhill

1

0

1

Houlihan Lokey

1

0

1

 

While some of the names near the top are mostly who one would expect, two names stood out. First, Morgan Stanley’s results were impressive, with a total 50% higher than any of its competitors. Second, Unicredit had an impressive showing, which surprised me given the turbulence in the Italian economy. In any case, it will be interesting to see if these trends hold for the remainder of 2016.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: