UBS has replaced Macquarie at the top of the financial adviser league table

Elizabeth street, Sydney. Steve Christo/Corbis via Getty Images

Australia’s mergers and acquisitions activity increased 29.2% to $113 billion from 580 deals in 2017, the second-highest annual value since 2008 and a record high in deal volume, says Mergermarket, a specialist financial market data source.

Australia inbound M&A had a record-breaking year in 2017 with 243 deals worth $80.5 billion, a rise 141.5% in value compared to last year.

UBS Investment Bank replaced Macquarie Group at the top the financial adviser league table in 2017 by value with $54 billion across 21 deals, according to the latest trend report from Mergermarket.

Source: Mergermarket

The UBS deals jumped by 23% in terms of value compared with 2016 when it did 15 deal at a total of $43.9 billion.

JPMorgan ranked second by value, advising on 17 deals worth $50.7 billion, jumping up from 13th place in 2016.

Macquarie Group secured first place by deal count, advising on 34 deals worth $36.4 billion.

On the legal side, Herbert Smith Freehills led by both value and deal count, advising on 80 deals worth $9.6 billion in 2017, for 14.6% growth in value compared with 2016.

Allens retained second position by value with 44 deals worth $64.9 billion, a 21.9% increase.

Gilbert + Tobin ranked second by deal count, advising on 65 deals worth $19.4 billion.

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