Morgan Stanley

Manager: John Mack
Age: 62
Appointed: 2005
Value added: 44.1% pa (2nd)
Chop rating: 2/5

Mack is back – and will live or die by his attempts to return Morgan Stanley to its pre-eminent position. So far, so good – but numerous challenges lie ahead if the firm is to reach the ultimate goal of overhauling Goldman Sachs

Star players: Walid Chammah, the head of global investment banking, is the man driving Morgan Stanley forward arm in arm with Mack

Rising star: Chairman of Morgan Stanley International, Jonathan Chenevix-Trench has risen up the ladder from humble fixed-income beginnings. Smooth and urbane, Chenevix-Trench is extremely well connected and a key player in its non-US business

Weakest link: Was always considered to be the best run firm on The Street, yet somehow got outwitted by the bean counters from Dean Witter. Paid big sums to invest in three hedge funds in the space of a week at the end of 2006 in a bid to catch up with rival banks with successful hedge fund businesses. Has it overpaid to do so?

Key transfers 2006:

IN: Domenico Sinisalco (vice-chairman, from the Italian ministry of economy and finance); Wei Christianson (CEO for China, from Citigroup); Stu Hendal (global head of prime brokerage, from Eton Park)

OUT: Jameel Akhrass (head of investment banking in the Middle East, to Lehman Brothers); Kevin Adeson (co-head of leveraged and acquisition finance for Europe, to HSBC)

2006 capital markets performance (▼/▲ 2005)

Overall fees: $3,966mln (+26.5%) 4th (no move)
DCM: $1,170.2mln (+37.2%) 6th (▲2)
ECM: $1,140.2mln (+18.5%) 4th (▼2)
M&A: $1,655.8mln (+25.3%) 3rd (▼1)
FX market share: 2.55% (-1.37%) 11th (▼2)

Rankings 2006:

Return on equity: 22.6% (6th)
Growth of earnings: 113% (1st)
Market cap: $85.4bln (9th)

Champions League position 2006: 2nd
If Morgan Stanley were a Champions League team it would be: Real Madrid. Has re-hired a coach who delivered glories in the past, but squad has undergone a great deal of upheaval in attempt to get back to the summit of the game