The US financial services industry saw a rise of 14.2% in overall deal activity during Q4 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 394 deals worth $42.67bn were announced in Q4 2020, compared to the last four-quarter average of 345 deals.

M&A was the leading category in the quarter with 288 deals which accounted for 73.1% of all deals.

In second place was venture financing with 70 deals, followed by private equity with 36 transactions, respectively accounting for 17.8% and 9.1% 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 $38.5bn, while private equity and venture financing deals totalled $2.78bn and $1.4bn, respectively.

The US financial services industry deals in Q4 2020: Top deals

The top five financial services deals accounted for 69.5% of the overall value during Q4 2020.

The combined value of the top five financial services deals stood at $29.64bn, against the overall value of $42.67bn recorded for the quarter.

The top five financial services industry deals of Q4 2020 tracked by GlobalData were:

1) The $9bn merger of Foley Trasimene AcquisitionII and Paysafe Group

2) The $7bn acquisition of Eaton Vance by Morgan Stanley

3) The $6bn merger of TCF Financial and Huntington Bancshares

4) The $3.94bn acquisition of MetLife Auto & Home Insurance Agency by Farmers Exchanges and Farmers Group

5) The merger of Clover Health and Social Capital Hedosophia HoldingsIII for $3.7bn.

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.