JP Morgan and UBS have emerged as the leading financial advisers for mergers and acquisitions (M&A) in the Asia-Pacific region during the first half of 2024, according to recent research.

Topping the list in terms of deal value was JP Morgan, while UBS led in deal volume, according to the latest financial adviser league tables by data and analytics company GlobalData, which ranks advisers by the value and volume of the M&A deals on which they advised.

The analysis shows that JP Morgan secured the top position by advising on deals worth US$10.8 billion, while UBS dominated in terms of volume, advising on 21 deals. Notably, both firms maintained their top spots from the previous year.

UBS occupied the second position in terms of value, by advising on US$9.1 billion worth of deals, followed by Morgan Stanley with US$7.6 billion, Bank of America with US$6.1 billion and Deutsche Bank with US$5.7 billion.

Meanwhile, Moelis & Company occupied the second position in terms of volume with eight deals, followed by Ernst & Young with seven deals, and Nomura and Rothschild & Co with six deals each.

However, the Asia-Pacific region saw a 10.9% decline in deal activity, with 6,760 deals across M&A, private equity and venture financing during the first half of 2024 compared with 7,590 during the same period last year.

This decline was part of a global trend of subdued deal activity, GlobalData argues, influenced by ongoing geopolitical tensions and macroeconomic challenges.

Most Asia-Pacific markets, including China, India and Australia, registered declines in deal volume; however, Japan and Thailand bucked the trend showing some improvement.