Goldman Sachs has significantly strengthened its position in the European, Middle East and Africa (EMEA) mergers and acquisitions advisory market during the first half of 2026. According to LSEG data reviewed by Reuters, the bank captured its largest market share in nearly a decade, advising on 111 deals representing 44% of total EMEA M&A transaction value during the January-June period. This represents a substantial increase from the 42% market share achieved in the corresponding period of 2025, marking Goldman's strongest first-half performance since 2018 when it captured a 46% share of the market.
The surge in Goldman's market share coincided with a remarkable revival in regional dealmaking activity. As reported by Reuters, total announced M&A transactions in EMEA reached $676 billion during the first half of 2026, representing more than double the level recorded a year earlier and marking the highest first-half total in 19 years. This rebound has been supported by a more favourable regulatory environment and improving corporate confidence, with companies increasingly focusing on long-term strategic acquisitions rather than short-term market fluctuations.
While Goldman maintained its comfortable lead, the competitive landscape showed some tightening. According to Reuters analysis, JPMorgan advised on 99 deals, representing 35% of the market by value, narrowing the gap with Goldman to 9 percentage points from 11 a year earlier. Despite this improvement, JPMorgan's lead over its closest rival remained substantial, with Goldman's dominance driven by its involvement in several of the region's largest transactions. Among the marquee deals were Unilever's approximately $45 billion sale of its food business to McCormick and TK Elevators' $34 billion combination with Kone.
On the global stage, Goldman Sachs retained its top advisory position, capturing 38% of worldwide M&A activity by value and advising on more deals than any other investment bank. As reported by Reuters, while independent advisory firm Rothschild worked on the highest number of deals overall, advising on 163 transactions, Goldman ranked ahead by participating in 15 of the 20 largest deals announced in EMEA during the period. The rebound follows a subdued 2025 when uncertainty surrounding the return of U.S. President Donald Trump to the White House weighed on corporate transactions, with investment bankers noting that companies are increasingly focusing on strategic acquisitions.
