Europe’s financial services industry saw a drop of 22.22% in cross border deal activity during March 2022, when compared with the last 12-month average, led by RBC Wealth Management’s $2.08bn acquisition of Brewin Dolphin, according to GlobalData’s deals database.

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A total of 35 financial services industry cross border deals worth $3.7bn were announced for the region in March 2022, against the 12-month average of 45 deals.

Of all the deal types, M&A saw most activity in March 2022 with 19 transactions, representing a 54.3% share for the region.

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In second place was venture financing with 11 deals, followed by private equity deals with five transactions, respectively capturing a 31.4% and 14.3% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Europe’s financial services industry with $3.04bn, while venture financing and private equity deals totalled $335.75m and $283.19m, respectively.

Europe financial services industry cross border deals in March 2022: Top deals

The top five financial services cross border deals accounted for 89.1% of the overall value during March 2022.

The combined value of the top five financial services cross border deals stood at $3.26bn, against the overall value of $3.7bn recorded for the month.

The top five financial services industry cross border deals of March 2022 tracked by GlobalData were:

1) RBC Wealth Management $2.08bn acquisition deal with Brewin Dolphin

2) The $575m acquisition of Finaro by Shift4 Payments

3) Howden Broking Group $233.57m acquisition deal for 87% stake in Assiteca

4) The $184.28m private equity of Currencies Direct by Blackstone Tactical Opportunities Fund,Corsair Capital,Currencies Direct – Management Team and Palamon Capital Partners

5) Creandum Advisor,Hjalmar Winbladh,Ilkka Paananen,Jacob de Geer and LocalGlobe $181.03m venture financing deal with ArK Kapital