The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

Awards for Excellence 2013: Best Equity house

Specialist ECM franchise firms, with Morgan Stanley at the forefront, flourished in the revived markets from mid-2012 onwards.

Awards for Excellence 2013

Best Equity house: Morgan Stanley

Also shortlisted: Goldman Sachs and Citi

As central banks eased credit and liquidity concerns from mid-2012 and the equity capital markets revived, the large universal banks with hefty balance sheets to underwrite primary-market risk slipped a little in the ECM rankings. In less-stressed market conditions, leadership reverted to the traditional ECM franchise firms with strong equity distribution and smart ideas. And although Goldman led the league table for the period under review, Morgan Stanley pips it for the award this year in recognition of a string of important deals for its corporate clients spanning developed and emerging markets, sometimes executed in tough market conditions when other firms hunkered down.

"It was a year when many large corporations used the equity capital markets for strategic transactions, seeing it as preferable to the M&A market partly for tax reasons, but mainly for certainty of outcome. These are deals that simply cannot be allowed to go wrong," says Raj Dhanda, Morgan Stanley’s co-head of global capital markets.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree