Total financial services industry deals worth $26.6bn were announced globally for February 2021, with the $7.6bn acquisition of People’s United Financial being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 15% over the previous month of $31.29bn and a drop of 8.9% when compared with the last 12-month average of $29.21bn.

In terms of number of deals, the sector saw a drop of 19.23% with 252 deals in February 2021 when compared to the last 12-month average of 312 deals.

In value terms, North America led the activity with deals worth $18.69bn in February 2021.

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financial services industry deals in February 2021: Top deals

The top five deals accounted for 77.8% of the overall value during February 2021.

The combined value of the top five deals stood at $20.68bn, against the overall value of $26.6bn recorded for the month.

The top five financial services industry deals of February 2021 tracked by GlobalData were:

1) M&T Bank’s $7.6bn acquisition of People’s United Financial

2) The $4.7bn merger of Apex Clearing and Northern Star InvestmentII

3) Aema Groupe’s $3.88bn acquisition of Aviva France

4) The $2.4bn venture financing deal of Robinhood Financial by Andreessen Horowitz, ICONIQ Capital, Index Ventures, New Enterprise Associates, Ribbit Capital and Sequoia Capital Operations

5) GTCR and Reverence Capital Partners’ private equity deal with Wells Fargo Asset Management for $2.1bn.