The US financial services industry saw a drop of 28.1% in overall deal activity during November 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 87 deals worth $28.27bn were announced in November 2019, compared to the 12-month average of 121 deals.

M&A was the leading category in the month in terms of volume with 64 deals which accounted for 73.6% of all deals.

In second place was venture financing with 18 deals, followed by private equity with five transactions, respectively accounting for 20.7% and 5.8% of overall deal activity in the country’s financial services industry during the month.

In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $27.49bn, while private equity and venture financing deals totalled $500m and $282.28m, respectively.

US financial services industry deals in November 2019: Top deals

The top five financial services industry deals accounted for 99.2% of the overall value during November 2019.

The combined value of the top five financial services deals stood at $28.06bn, against the overall value of $28.27bn recorded for the month.

The top five financial services industry deals of November 2019 tracked by GlobalData were:

1) The Charles Schwab’s $26bn acquisition of TD Ameritrade

2) The $1.3bn merger of Advisor Group and Ladenburg Thalmann Financial Services

3) Dyal Capital Partners’ $500m private equity deal with Owl Rock Capital Partners

4) The $155m acquisition of Accent by HMS

5) Citi Ventures, 83North, ION Crossover Partners, ION Group, Lightspeed Management Company, Maor Investments, Menlo Ventures, Microsoft’s Venture Fund, M12, MUFG Innovation Partners, Nationwide Ventures, O.G. Tech Ventures, SVB Capital Partners and Vintage Investment Partners’ venture financing of Bluevine Capital for $102.5m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.