European firms lead the way in financial and technical advisory tables
French banks have been the most successful in the Middle East region over the past year, according to a new league table of deal activity, with BNP Paribas having the largest share of the market for financial advisers and Calyon leading the way among mandated lead arrangers.
According to the figures released by Infrastructure Journal, a sister title of MEED, banks from outside the region dominate both areas of business. Saudi Arabia’s Alinma bank is the top ranked mandated lead arranger, having worked on $500m worth of deals over the past year, making it the ninth largest bank (see tables below).
The market for legal advisers is similarly dominated by international firms, with the entire top ten filled by US and UK firms, led by the US’ Shearman and Sterling, which has strong links with the Abu Dhabi government.
Germany’s Fichtner is the most successful technical adviser, winning contracts on almost $3.5bn worth of contracts.
The largest project sponsor is Abu Dhabi’s Mubadala Development Company, which has launched projects worth more than $3.2bn over the past year.
Mandated lead arrangers:
| Rank | Company | Total ($m) | Transactions | Market Share (%) |
|---|---|---|---|---|
| 1 | Calyon | 674.2 | 10 | 5.18 |
| 2 | Standard Chartered Bank | 634.7 | 10 | 4.88 |
| 3 | Bank of China | 595.0 | 3 | 4.57 |
| 4 | Standard Bank | 560.1 | 7 | 4.31 |
| 5 | BNP Paribas | 546.1 | 10 | 4.2 |
| 6 | Bank of Tokyo Mitsubishi | 528.9 | 7 | 4.07 |
| 7 | Nedbank Capital | 523.4 | 3 | 4.02 |
| 8 | Societe Generale | 503.6 | 6 | 3.87 |
| 9 | Alinma | 500.0 | 1 | 3.84 |
| 10 | Sumitomo Mitsui Banking Corporation | 459.2 | 7 | 3.53 |
Financial advisers:
| Rank | Company | Total ($m) | Transactions | Market Share (%) |
|---|---|---|---|---|
| 1 | BNP Paribas | 4971.1 | 5 | 25.66 |
| 2 | Royal Bank of Scotland | 4113.0 | 1 | 21.23 |
| 3 | HSBC | 2634.3 | 1 | 13.6 |
| 4 | Citigroup | 2503.3 | 1 | 12.92 |
| 5 | Standard Chartered Bank | 1192.4 | 2 | 6.15 |
| 6 | Calyon | 1158.9 | 1 | 5.98 |
| 7 | Sumitomo Mitsui Banking Corporation | 949.0 | 1 | 4.9 |
| 8 | Kagiso Financial Services | 778.8 | 1 | 4.02 |
| 9 | Macquarie | 458.9 | 1 | 2.37 |
| 10 | Azura Capital | 340.0 | 1 | 1.75 |
Legal advisers:
| Rank | Company | Total ($m) | Transactions | Market Share (%) |
|---|---|---|---|---|
| 1 | Shearman & Sterling | 7,920.7 | 4 | 11.45 |
| 2 | White & Case | 7,374.5 | 5 | 10.66 |
| 3 | Allen & Overy | 6,814.5 | 10 | 9.85 |
| 4 | Milbank | 5,029.5 | 3 | 7.27 |
| 5 | Latham & Watkins | 4,400.0 | 3 | 6.36 |
| 6 | Skadden Arps | 4,135.0 | 2 | 5.98 |
| 7 | Sullivan & Cromwell | 4,113.0 | 1 | 5.95 |
| 8 | Chadbourne & Parke | 3,611.8 | 3 | 5.22 |
| 9 | Norton Rose | 2,919.5 | 3 | 4.22 |
| 10 | Baker Botts | 2,503.3 | 1 | 3.62 |
Technical advisers:
| Rank | Company | Total ($m) | Transactions | Market Share (%) |
|---|---|---|---|---|
| 1 | Fichtner | 3,498.7 | 2 | 23.88 |
| 2 | Shaw Group | 2,634.3 | 1 | 17.98 |
| 3 | Stone & Webster | 2,130.2 | 1 | 14.54 |
| = | Mott MacDonald | 2,130.2 | 1 | 14.54 |
| 5 | Gleeds | 1,158.9 | 1 | 7.91 |
| = | Murray & Roberts | 1,158.9 | 1 | 7.91 |
| 7 | Detecon | 778.8 | 1 | 5.32 |
| 8 | Sogreah | 512.5 | 1 | 3.5 |
| 9 | K&M Engineering | 465.0 | 1 | 3.17 |
| 10 | Arup | 93.2 | 1 | 0.64 |
Project sponsors:
| Rank | Company | Total ($m) | Transactions | Market Share (%) |
|---|---|---|---|---|
| 1 | Mubadala Development Company | 3,256.5 | 2 | 12.05 |
| 2 | Qatar Petroleum | 2,230.2 | 1 | 8.25 |
| 3 | ExxonMobil | 2,044.3 | 2 | 7.56 |
| 4 | Abu Dhabi Water & Electricity Authority | 1,888.1 | 2 | 6.99 |
| 5 | Total | 1,620.2 | 1 | 5.99 |
| = | Occidental Petroleum | 1,620.2 | 1 | 5.99 |
| 7 | GDF Suez | 1,485.4 | 2 | 5.5 |
| 8 | Kepco | 1,303.6 | 2 | 4.82 |
| 9 | Lafarge | 1,163.0 | 2 | 4.3 |
| 10 | Acwa Power | 1,001.3 | 1 | 3.7 |
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