Like Meryl Streep at the Oscars, Goldman Sachs Group Inc. isn’t lacking acclaim for its merger and acquisition advisory business. It’s finished first in deal volume for five consecutive years and in nine of the last 10.
Even so, Goldman Sachs outdid itself this year. No top firm has had a larger market-share spread over its nearest competitor since 1998. The New York-based bank advised on more than 35 percent of all deals this year by dollar volume, as of Dec. 15, surpassing second-place Morgan Stanley by about 10 percentage points, according to data compiled by Bloomberg. That’s the largest market share lead between the No. 1 and No. 2 financial adviser since Goldman Sachs trumped what’s now called JPMorgan Chase & Co. by 14 percentage points 16 years ago.