The value marked a decrease of 82 per cent over the previous month and a drop of 69.2 per cent when compared with the last 12-month average of $26.01 billion.
In terms of number of deals, the sector saw a drop of 7.6 per cent over the last 12-month average with 257 deals against the average of 278 deals.
North America led the M&A activity by value with deals worth $5.68 billion.
The top five financial services deals accounted for 58.2 per cent of the overall value during September 2019; the combined value of the top five financial services deals stood at $4.66 billion, against the overall value of $8.01 billion recorded for the month.
The top five financial services industry deals of September 2019 tracked by GlobalData were:
1. Prudential Financial’s $3.5 billion acquisition of Assurance IQ
2. The $460.7 million acquisition of Revere Bank by Sandy Spring Bancorp
3. Commerzbank Inlandsbanken’s $319.2 million acquisition of comdirect bank
4. The $200 million venture financing of Mission Lane by Invus Opportunities, LL Funds, Oaktree Capital Management and QED Investors
5. Cerberus Capital Management’s private equity deal with Axsesstoday for $177.97 million.