JPMorgan has reversed the curse, and pulled into the top spot of the European I-Banking League Tables for the first half of 2007. JPMorgan was boosted by its strong performance in ECM, which commanded the second highest combined market share in ECM, trailing Deutsche Bank. The League Tables measure the combined market share of M&A, ECM and DCM. Citi was the only bank to finish in the top four in all three categories, and is 2nd in the League Table to JPMorgan.

Goldman, the Yankees of the financial world, remain much like the Yankees this year, sitting in a distant fifth place behind JPMorgan, Citi, UBS and Deutsche Bank (or 11 games out of first place). Goldman is quick to mention its top spot in European M&A, and high team OBP. Goldman has advised on $401bn worth of European transactions so far this year.

Spurred by megadeals like UniCredit/Capitalia, Enel & Acciona/Endesa, KKR/Alliance Boots, Reuters/Thomson and the ABN Amro bidding war between Barclays and RBS, deal volume in Europe has reached $1.3 trillion, and is expected to exceed last year's record of $1.5 trillion.

Fewer transactions but bigger numbers in the US mergers and acquisitions market means the battle for league table placement in the quarter just ending was especially hard fought.

Goldman Sachswas the top adviser for US mergers, according to the research firm Dealogic, boosted by its role in the huge TXU buyout offer. It was followed by Morgan Stanley and JP Morgan Chase. While Dealogic’s tallies aren’t viewed as important as those assembled by Thompson Financial, you can bet there is some back patting and grinning over at Goldman this morning.

And maybe, just maybe, Lloyd Blankfein put a little extra sugar in his Styrofoam coffee cup this morning.*

*This whole Lloyd loves the Styrofoam thing was, as far as we can tell, made up by Bess Levin. Factual accounts of how Bankfein takes his coffee—if at all—are always welcome. Goldman could not immediately comment on this matter when contacted this morning.

DealBook has the official Thomson Financial league table results for Global M&A, with Goldman just edging out Citigroup for total deal volume:

After giving us a preview late last year, Thomson Financial this week sent DealBook its official tally of last year’s merger and acquisitions activity. Global M&A topped $3.8 trillion in 2006, a bump of nearly 38 percent over the previous year. Nearly 20 percent of the year’s deals involved private-equity buyers. And large swaths of the deal-making were handled by two investment banks, Goldman Sachs and Citigroup

[Cutting tired bonus news rehash] In the year-end league tables — the rankings scrutinized and boasted about by investment bankers — Goldman Sachs took the crown for advising on the largest volume of global announced deals. It advised on $1.09 trillion in deals, for a 28.6 percent market share. Perhaps more surprising was last year’s showing by Citigroup, which leaped from fifth place in 2005 to second last year. Citigroup advised on $1.03 trillion in transactions, claiming a 27.2 percent market share, Thomson Financial said.

Citigroup’s gap with Goldman Sachs narrowed in the last two weeks of the year: A previous DealBook item noted
that as of Dec. 20, Citi had a total deal volume of $987 billion, by Thomson’s count.

Goldman, Citi Top List of 2006 M&A Deal Makers [DealBook]

M&A League Table Cage Match

Thompson Financial published the M&A league tables yesterday, just on the heels of the bonus mania for the past couple of weeks. Outsiders may not appreciate just how seriously the investment banks take these rankings. Seriously enough to ignite a vicious fight and engage in all sorts of chicanery in an attempt to get big deals counted toward their ranking.

From the New York Post:
A squabble is erupting among the giant Wall Street banks over which one should rightfully hold the No. 1 spot in their league of deal-making this year.

Just as the formal rankings were revealed yesterday by data outfit Thomson Financial, putting Goldman Sachs on top with nearly $1.049 trillion in deals - just barely ahead of Citigroup's $1.021 trillion - officials at Citigroup were said to have contacted Thomson by letter to cry foul.

Citigroup complained that the rankings failed to include a major piece of a Citigroup deal in Europe involving Statoil ASA's $30 billion acquisition of Norsk Hydro ASA's energy assets.

That particular piece of the Hydro deal, combined with other possible uncounted advisory fees, could likely boost Citigroup past Goldman Sachs for the top spot, according to a report in the Financial Times.

Deals & More Deals [New York Post]