Lawyers Weekly is delighted to present the top M&A Dealmakers of 2025, a pioneering new ranking that celebrates high-performing mergers and acquisitions dealmakers in Australia.
The first-of-its-kind M&A Dealmakers 2025 ranking recognises those mergers and acquisitions lawyers who made a large number of deals during the 2025 financial period and played an essential role in not only aiding with business growth but also shaping the broader economic landscape.
Indeed, the top 27 dealmakers of Australia made an average of 5.7 deals. The average value of the transactions totalled $14 billion in FY2024–25, according to the figures in the M&A Dealmakers ranking.
The top 20 dealmakers advised on an average of 6.9 deals during this period, with the average transaction value totalling $18.8 billion.
There has been no shortage of challenges for M&A lawyers in the recent past, including geopolitical instability, international conflicts, fluctuating interest rates, and slow economic growth.
According to some legal professionals, the biggest challenge for M&A lawyers is the economic landscape and its impacts on valuations. Recent global political and economic uncertainty has had a domino effect on the ability of businesses to price M&A deals and the ability of global investors to model their potential returns.
Notably, while legal professionals had expected a surge of corporate activity following Donald Trump’s return to the US presidency, this has instead brought heightened unpredictability and uncertainty to the M&A market.
Closer to home, despite sluggish economic growth, stubborn inflation, and high interest rates, some reports indicated that Australia’s M&A market demonstrated strong growth last year, driven by policy certainty following the federal election and continued interest from international investors.
This tumultuous market did not stop the top M&A dealmakers of 2025 from closing a high number of deals and spurring business growth. They demonstrated their skills and ability to provide strategic guidance and deliver strong results.
The top 10 dealmakers performed particularly well, advising on 8.3 deals on average, which came to a staggering $32 billion in average transaction value.
The top five dealmakers made 47 deals worth $249 billion, with Gilbert + Tobin partner and co-lead of corporate advisory Costas Condoleon topping the inaugural ranking. He advised on eight deals worth $46.3 billion. Meanwhile, Herbert Smith Freehills Kramer Partner Amelia Morgan achieved the highest total value of deals, closing five deals worth $122.8 billion during the 2025 financial year.
Herbert Smith Freehills Kramer chair and senior partner Rebecca Maslen Stannage closed the highest number of deals (12), totalling $12.8 billion.
Lawyers Weekly editor Jerome Doraisamy congratulated all the top M&A dealmakers of 2025 and emphasised that it was crucial to shine a light on the unsung heroes whose strategic direction and advice are major determining factors in deal quality and speed.
“These dealmakers have to balance multiple priorities simultaneously to ensure that their deals are successful and all parties benefit from those deals,” Doraisamy said.
“They not only have to conduct due diligence and develop and execute negotiation strategies to secure the best terms for their clients – they also have to manage risks and anticipate regulatory and legal risks. On top of this, they have to co-ordinate between stakeholders, set realistic targets, and assist with post-merger integration.
“The top 27 dealmakers have done all of this with aplomb while going above and beyond for their clients. This is clear to see in the extraordinary results they have achieved throughout the 2025 financial year.
“These legal professionals have set a high benchmark for other lawyers to emulate, not just in the mergers and acquisitions space, but across the profession.”
The ranking was determined based on a rigorous methodology using two key metrics: total value of advised deals and total number of advised deals between July 2024 and June 2025. All data verified by Agile Market Intelligence to ensure accuracy. In each submission, every entrant was asked to upload the deal information and verification template provided, clearly outlining details of each deal advised on during FY24–25.
Here are the top 10 M&A Dealmakers of 2025:
Costas Condoleon – partner, co-lead of corporate advisory at Gilbert + Tobin
Michael Ziegelaar – partner at Herbert Smith Freehills Kramer
Philippa Stone – partner at Herbert Smith Freehills Kramer
Rachael Bassil – partner, co-lead of corporate advisory at Gilbert + Tobin
Rebecca Maslen-Stannage – chair and senior partner at Herbert Smith Freehills Kramer
Bruce Macdonald – partner, corporate transactions at Ashurst
Rory Moriarty – partner, head of corporate M&A and co-head of international at Clayton Utz
Amelia Morgan – partner at Herbert Smith Freehills Kramer
Sarah Turner – partner at Gilbert + Tobin
Alex Kauye – partner at Gilbert + Tobin
Click here to view the full M&A Dealmakers 2025 report and ranking.
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