League Tables: Southeast Asia

Leading Equity Houses: Southeast Asia 2007-2021

Leading Equity Houses in Southeast Asia (2007-2021)	Proceeds (US$ Mil)	Rank	Market Share	Share
JP Morgan	29,415.1	1	8.0	142
UBS	28,533.2	2	7.7	188
Credit Suisse	28,466.3	3	7.7	215
CIMB Group	24,096.2	4	6.5	289
DBS Group	22,048.8	5	6.0	227
Goldman Sachs	20,007.1	6	5.4	73
Morgan Stanley	18,178.9	7	4.9	100
Citi	14,452.8	8	3.9	128
BofA Securities Inc	13,561.5	9	3.7	82
Deutsche Bank	13,483.7	10	3.7	91
Malayan Banking	12,804.8	11	3.5	187
Kiatnakin Phatra	9,841.6	12	2.7	44
HSBC Holdings	8,030.7	13	2.2	68
Siam Commercial Bank	7,859.8	14	2.1	53
RHB	7,367.0	15	2.0	300
CITIC	7,300.9	16	2.0	106
Bualuang Securities	6,094.1	17	1.7	51
Danatama Makmur	5,268.7	18	1.4	31
United Overseas Bank	4,620.9	19	1.3	252
Kasikornbank	4,579.9	20	1.2	44
Macquarie Group	4,533.1	21	1.2	51
Standard Chartered	4,287.0	22	1.2	58
Bank Mandiri	4,276.1	23	1.2	67
OCBC	4,067.1	24	1.1	60
BNP Paribas SA	3,068.9	25	.8	35

Industry Total	368,892.7	–	100.0	3,794
Source: Refinitiv
Period: 12/01/2006 – 11/30/2021

Leading Equity Houses in Southeast Asia 2025	Proceeds (US$ Mil)	Rank	Market Share	Deals
Kiatnakin Phatra Finl Grp	1,298.84	1	8.79	1
UBS	914.95	2	6.19	13
DBS Group Holdings	906.08	3	6.13	12
Bank of Philippine Islands	855.73	4	5.79	6
JP Morgan	744.25	5	5.04	4
Morgan Stanley	729.71	6	4.94	4
HSBC Holdings PLC	660.42	7	4.47	3
Malayan Banking Bhd	615.03	8	4.16	16
Citi	605.04	9	4.09	6
PT Trimegah Sekuritas	551.94	10	3.73	6
United Overseas Bank Ltd	512.26	11	3.47	25
Jefferies LLC	460.93	12	3.12	1
RHB	382.78	13	2.59	15
CIMB Group Holdings Bhd	331.52	14	2.24	8
Oversea-Chinese Banking	302.12	15	2.04	7
M and A Securities Sdn Berhad	296.23	16	2.00	28
Bank Mandiri	283.85	17	1.92	4
Barclays	258.33	18*	1.75	2
BTIG LLC	258.33	18*	1.75	2
Cantor Fitzgerald LP	258.33	18*	1.75	2
China Construction Bank	230.33	21	1.56	2
China Galaxy Securities Co	217.69	22	1.47	7
CITIC	211.67	23	1.43	3
AMMB Holdings Bhd	189.18	24	1.28	8
BofA Securities Inc	164.83	25*	1.12	1
Mizuho Financial Group	164.83	25*	1.12	1

Industry total	14,780.83	–	100.00	278
Source: LSEG
Period: 12/01/2024 – 11/30/2025

Leading Equity Houses in Southeast Asia 2024	Proceeds (US$ Mil)	Rank	Market Share	Deals
CIMB Group Holdings Bhd	1,092.84	1	10.96	11
United Overseas Bank Ltd	716.05	2	7.18	37
UBS	695.31	3	6.97	12
Malayan Banking Bhd	684.97	4	6.87	16
JP Morgan	610.79	5	6.13	4
AMMB Holdings Bhd	358.67	6	3.60	12
BofA Securities Inc	341.41	7	3.42	4
BTIG LLC	330.00	8	3.31	2
Morgan Stanley	297.28	9	2.98	4
Bualuang Securities PCL	279.14	10	2.80	3
Bank of Philippine Islands	267.96	11	2.69	5
M and A Securities Sdn Berhad	258.42	12	2.59	29
CITIC	219.46	13	2.20	5
DBS Group Holdings	189.66	14*	1.90	5
Oversea-Chinese Banking	189.66	14*	1.90	5
Barclays	180.00	16	1.81	1
RHB	175.86	17	1.76	10
BDO Unibank Inc	165.37	18	1.66	2
TA Securities Holdings Bhd	152.92	19	1.53	27
Kiatnakin Phatra Finl Grp	152.43	20	1.53	1
HSBC Holdings PLC	144.98	21	1.45	3
Citi	139.89	22	1.40	3
SVB Financial Group	132.50	23	1.33	2
Kasikornbank PCL	128.71	24	1.29	3
Yuanta Financial Hldg Co Ltd	99.66	25	1.00	3

Industry total	9,970.81	–	100.00	312
Source: LSEG
Period: 12/01/2023 – 11/30/2024

Leading Equity Houses in Southeast Asia 2023	Proceeds (US$ Mil)	Rank	Market Share	Deals
UBS	1,283.8	1	10.7	18
Citi	855.1	2	7.1	9
DBS Group Holdings	771.0	3	6.4	11
United Overseas Bank Ltd	579.8	4	4.8	44
CITIC	574.3	5	4.8	6
Bank Mandiri	475.4	6	4.0	4
JP Morgan	393.3	7	3.3	3
Oversea-Chinese Banking	373.4	8	3.1	6
Bank Negara Indonesia PT	359.2	9	3.0	3
Goldman Sachs & Co	356.6	10	3.0	2
HSBC Holdings PLC	350.7	11	2.9	4
Finansia Syrus Securities PCL	345.4	12	2.9	15
CIMB Group Holdings Bhd	319.8	13	2.7	15
BofA Securities Inc	306.7	14	2.6	3
Malayan Banking Bhd	275.1	15	2.3	13
M and A Securities Sdn Berhad	232.1	16	1.9	29
ING	209.0	17	1.7	2
RHB	178.9	18	1.5	10
AMMB Holdings Bhd	174.1	19	1.5	11
Kenanga Investment Bank Bhd	169.7	20	1.4	15
TA Securities Holdings Bhd	152.5	21	1.3	29
KGI Financial Services Group	131.4	22	1.1	23
Trimegah Securities Tbk PT	127.1	23	1.1	5
PT Indo Premier Securities	124.0	24	1.0	3
Morgan Stanley	120.6	25	1.0	1

Industry Total	12,017.0	–	100.0	345
Source: LSEG
Period: 12/01/2022 – 11/30/2023

Leading Equity Houses in Southeast Asia 2022	Proceeds (US$ Mil)	Rank	Market Share	Deals
DBS Group Holdings	2,091.1	1	11.3	8
Credit Suisse	938.4	2	5.1	12
UBS	853.4	3	4.6	7
Kiatnakin Phatra Finl Grp	651.9	4	3.5	3
Bualuang Securities PCL	607.2	5	3.3	3
JP Morgan	574.2	6	3.1	4
United Overseas Bank Ltd	573.4	7	3.1	53
KGI Financial Services Group	572.4	8	3.1	15
CITIC	544.5	9	3.0	7
BofA Securities Inc	496.8	10	2.7	3
Citi	491.5	11	2.7	4
Danatama Makmur	456.7	12	2.5	5
Malayan Banking Bhd	455.1	13	2.5	14
PT Binaartha Sekuritas	444.3	14	2.4	2
PT Sucorinvest Inti Investama	433.0	15	2.4	4
Mirae Asset Securities Co Ltd	431.4	16	2.3	9
Siam Commercial Bank PLC	411.4	17	2.2	1
Kasikornbank PCL	408.1	18	2.2	4
CIMB Group Holdings Bhd	391.3	19	2.1	22
ING	381.6	20	2.1	1
Finansia Syrus Securities PCL	264.1	21	1.4	11
AMMB Holdings Bhd	255.5	22	1.4	14
Oversea-Chinese Banking	240.5	23	1.3	3
RHB	239.2	24	1.3	10
Bank Mandiri	224.4	25	1.2	6

Industry Total	18,452.9	–	100.0	341
Source: Refinitiv
Period: 12/01/2021 – 11/30/2022

Leading Equity Houses in Southeast Asia 2021	Proceeds (US$ Mil)	Rank	Market Share	Deals
JP Morgan	4,991.2	1	14.8	13
Goldman Sachs	3,804.8	2	11.3	4
BofA Securities	3,253.1	3	9.6	10
DBS Group	1,950.9	4	5.8	22
UBS	1,826.8	5	5.4	15
Morgan Stanley	1,507.7	6	4.5	11
Credit Suisse	1,434.5	7	4.3	19
Bank Mandiri	1,188.6	8	3.5	6
Malayan Banking	1,109.2	9	3.3	15
Kiatnakin Phatra	936.6	10	2.8	5
15 Others	6670.1	11	19.8	234

Industry Total	33,786.4	–	100.0	432
Source: Refinitiv
Period: 12/01/2020 – 11/30/2021

Leading Equity Houses in Southeast Asia 2020	Proceeds (US$ Mil)	Rank	Market Share
Kiatnakin Phatra Financial Group	2,332.4	1	9.9
DBS Group Holdings	2,267.8	2	9.6
CIMB Group Holdings Bhd	1,839.3	3	7.8
22 Others	15,079.4	–	63.8

Industry Total	23,601.8	–	100.0
Source: Refinitiv
Period: 12/01/2019 – 11/30/2020