Sullivan & Cromwell claimed the top spot for deal activity in Latin America in 2023 while ranking second in the Caribbean, during what was a slow year for mergers and acquisitions around the globe.

Data from the London Stock Exchange Group showed that the New York-based firm logged 13 deals in Latin America worth $15.3 billion last year, catapulting it from a ranking of 18 in 2022. The firm also clocked eight deals in the Caribbean worth $10.8 billion.