The US financial services industry saw a drop of 6.04% in overall deal activity during Q4 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 342 deals worth $44.38bn were announced in Q4 2019, compared to the last four-quarter average of 364 deals.

M&A was the leading category in the quarter with 224 deals which accounted for 65.5% of all deals.

In second place was venture financing with 99 deals, followed by private equity with 19 transactions, respectively accounting for 29% and 5.6% of overall deal activity in the country’s financial services industry during the quarter.

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In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $41.14bn, while private equity and venture financing deals totalled $1.99bn and $1.25bn, respectively.

The US financial services industry deals in Q4 2019: Top deals

The top five financial services deals accounted for 85.5% of the overall value during Q4 2019.

The combined value of the top five financial services deals stood at $37.95bn, against the overall value of $44.38bn recorded for the month.

The top five financial services industry deals of Q4 2019 tracked by GlobalData were:

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

2) The $6.3bn asset transaction with Cigna by New York Life Insurance

3) HCC Insurance(Inactive)’s $3.1bn acquisition of Privilege Underwriters

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

5) Resolution Life Holdings’ asset transaction with Voya Financial for $1.25bn.

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.