In the North American financial services industry, there were 261 M&A deals announced in Q3 2023, worth a total value of $3.5bn, according to GlobalData’s Deals Database. The $936m minority acquisition of U.S. Bancorp by MUFG Bank was the industry’s largest disclosed deal. GlobalData’s Banking and Payments Industry Mergers and Acquisitions Deals by Top Themes report for Q3 2023 unveils the driving forces behind the M&A activities in the industry, providing crucial insights into trends and shifts. Buy the report here.

In value terms, M&A activity in North America decreased by 66% in Q3 2023 compared with the previous quarter’s total of $10.2bn and fell by 56% as compared to Q3 2022. Related deal volume increased by 0.38% in Q3 2023 versus the previous quarter and was 12% lower than in Q3 2022.

The top-ranked financial advisors supporting these M&A deals in North America in Q3 2023 were Piper Sandler Companies; Waller Helms Advisors; Houlihan Lokey with 12, 10, 9 deals respectively.

The top-ranked legal advisors supporting these M&A deals in North America Q3 2023 were Alston & Bird; Giordano, Halleran & Ciesla; Kirkland & Ellis with 25, 21, 14 deals respectively.

For further understanding of GlobalData's Banking and Payments Industry M&A Deals by Top Themes in Q3 2023 – Thematic Intelligence, buy the report here.

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