Morgan Stanley Emerges As Top M&A Advisor
Morgan Stanley Emerges As Top M&A Advisor
http://www.nypost.com/seven/06222009/business/macks_on_track_175418.htm
In the current year, so far John Mack led Morgan Stanley has emerged as the leading advisor for mergers and acquisitions by handling deals worth $175 billion. The company has toppled Goldman Sachs from the top position as it handled deals worth $158 billion, according to a report. Morgan Stanley has returned to the top position after 1996. The merger activity on the whole has, however, declined significantly and has tumbled by 47% year this year to $284 billion. Although the deal volume has gone down, Morgan Stanley has emerged as a winner by advising 13% more deals than last year. Goldman Sachs’ downfall is attributable to a 46% year on year decline. Several other bankers such as the Citi Group, Bank of America, UBS and Deutsche Bank have witnessed a significant fall in their deal volumes.
Daniel Elliot