This List includes investment banks that have offices in the Bay Area, which is defined as Alameda, Contra Costa, Marin, San Francisco and San Mateo counties. Ranking based on combined value of mergers and acquisitions completed (U.S. and international) and IPOs underwritten in calendar year 2018. M&A transaction data obtained from Mergermarket, based on announced deals and excluding lapsed or withdrawn deals. Includes all deals valued over USD $5 million, based on data as of Aug. 14, 2019. IPO data obtained from IPO Monitor.