JP Morgan’s dominance of Mexico’s investment banking market over the awards period was both quantitative and qualitative. Ranked number one in wallet share league tables, the firm captured a 17.5% market share in the 12 months through end-September. The result reflects not only volume leadership but an unrivaled presence on the country’s most complex and strategically significant transactions across mergers and acquisitions, equity capital markets and debt capital markets.
In a year marked by volatile global conditions and uneven investor risk appetite, JP Morgan positioned itself at the center of Mexico’s most consequential corporate and sovereign financings. The bank acted as exclusive financial advisor to El Puerto de Liverpool on its partnership with the Nordstrom family for the take-private of Nordstrom, one of the most visible cross-border strategic transactions involving a Mexican sponsor during the period. It also advised FEMSA on the approximately $210 million sale of logistics unit Solistica to Traxion, and served as financial advisor to Ovniver on the $815 million sale of its construction performance solutions business to Saint-Gobain.
On the equity side, JP Morgan acted as lead left global coordinator and stabilization agent on BBB Foods’ $659 million follow-on offering, a transaction that reopened the window for sizable Mexican equity issuances after a subdued period for the market.
Debt capital markets was where the bank’s scale and structuring depth were most visible. JP Morgan participated as leader in the largest capital raises for Mexican issuers over the awards period, with combined financings exceeding $35 billion. These included Mexico’s €5 billion triple-tranche sovereign bond across four-year, eight-year and twelve-year tenors, and an $8 billion triple-tranche transaction spanning five-year, seven-year and 10-year maturities.
The firm also led Pemex’s $9.9 billion tender offer targeting both US dollar and euro-denominated notes, one of the most technically demanding liability management exercises executed by a Latin American state-owned company during the period. JP Morgan further acted as sole structuring advisor and joint bookrunner on Mexico’s $12 billion debut pre-capitalized securities transaction, a landmark deal that introduced a new format of sovereign financing to the international markets. It capped the year by leading Mexico’s opening transaction of 2025: an $8.5 billion triple-tranche bond across long five-, 12- and 30-year tenors.
Beyond individual mandates, JP Morgan’s performance was defined by consistency and breadth. The bank identified opportunities for clients across multiple sectors and guided them through highly challenging and volatile conditions, delivering integrated solutions that combined advisory, equity and debt capabilities. Market participants widely regard the firm as the most professional and trusted partner in Mexico, providing investors with confidence that transactions meet the highest standards of diligence and execution.
Consistency over time remains a hallmark of the franchise. JP Morgan has been among the top firms in Mexico’s investment banking league tables for several years, maintaining leadership in mergers and acquisitions as well as in equity and debt capital markets. That sustained performance underpins its claim not only as one of the most active houses of the year, but also among the most strategically relevant.
The bank has also continued to expand its role in sustainable finance, delivering innovative and transparent solutions aligned with ESG principles and establishing itself as a leader in green and sustainable financing transactions in Mexico.
Through market-leading wallet share, landmark advisory mandates and record-setting financings, JP Morgan set the benchmark for investment banking performance in Mexico over the past year.