UK wealth and asset management M&A deal value rises to £22.7bn in H1 2026

The number and value of UK wealth and asset management merger and acquisition (M&A) transactions increased year-on-year in the first half of 2026, analysis from EY has shown.

It found that the number of wealth and asset management deals increased from 47 in the first half of 2025 to 61 in H1 2026.

Meanwhile, total deal value rose “significantly”, increasing from £0.2bn in H1 2025 to £22.7bn in the first half of 2026.

“Wealth and asset management continues to stand out as one of the most active areas of high-value M&A in UK financial services, with investors drawn to the sector’s long-term growth potential and opportunities to expand,” said EY UK financial services transformation leader, Ari Constantinou.

“While scale remains a key driver for deals, we are seeing more firms use M&A to accelerate business transformation - expanding advice capabilities, strengthening private market offerings, reaching new client segments, and enhancing digital investment capabilities. In this environment, M&A is increasingly being used not just to grow bigger, but to transform faster.”

Across the whole UK financial services sector, the number of publicly disclosed M&A transactions increased from 108 in H1 2025 to 135 in H1 2026.

Total disclosed value for UK financial services deals rose from £4.2bn to £33.7bn over the same period.

Seven transactions exceeded £1bn in value, including two ‘megadeals’ between £8bn and £10bn, representing around 93 per cent of total deal value.

In H1 2025, there were just two UK financial services M&A deals worth more than £1bn.

EY noted that, over the past decade, dealmaking in the UK’s financial services sector had fluctuated annually, while overall volumes were trending upwards.

H1 deal volumes are now 93 per cent higher than they were in 2017, while total transaction value has more than doubled.

Enhancing technology or AI capabilities were identified as the primary drivers behind greater M&A appetite, followed by strategic fit with long-term growth priorities and return on invested capital.

The number of non-UK firms acquiring UK companies fell from 40 in H1 2025 to 36 in H1 2026, while the total deal value rose from £4.1bn to £27.2bn over the same period.

UK firms acquiring overseas companies fell from 37 in H1 2025 to 34 in H1 2026, while deal value rose from £0.6bn to £2.6bn during this timeframe.

“It’s been a strong first half for UK financial services dealmaking, with overall transaction value significantly higher compared to last year, and more than double what it was a decade ago,” said EY UK financial services strategy and transactions leader, Damian Hourquebie.

“Market confidence has been supportive, with continued focus on strategic consolidation to bolster revenue growth, innovation, and transformation.

“While geopolitical and economic uncertainty remains, the strength of activity across H2 2025 and H1 2026, alongside the prioritisation of tech and capability-led M&A, suggests UK financial services leaders are making bold, strategic decisions to support sustained growth amid market challenges.”

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