Awards for Excellence 2015: Best emerging markets equity house
Morgan Stanley’s equity franchise stood out in the emerging markets, making transformative deals and underlining its status as a trusted adviser.
Best emerging markets equity house:
Key to the post-crisis rehabilitation of Morgan Stanley’s business model has been its steely focus in recent years on its competitive strengths as a client-focused capital-efficient investment bank, with a strong advisory and wealth-management business.
Its emerging markets equity business over the last year aptly demonstrates this investment-banking clout. During the awards period, Morgan Stanley’s equity franchise stands out for being particularly well-balanced across sectors and products, while it has not been dependent on large block deals for league-table credit.
Morgan Stanley pounced on market windows to underwrite transformative equity deals, entrenching its status as one of the most trusted advisers for state-owned enterprises and expansionist private players in an era of fee-compression, bookrunner inflation and Asian deal-flow dominance. In Asia, for example, Morgan Stanley’s franchise was diverse with financials, TMT and consumer, including healthcare, each representing a third of the firm’s league table credit.
Morgan Stanley’s leading role in complex transactions, providing holistic financing advice, generating repeat business, and using capital in targeted situations – such as select blocks – deserves credit.