World's best bank for advisory 2016: Morgan Stanley

Also shortlisted:

Bank of America Merrill Lynch

Goldman Sachs

Lazard

View full 2016 results

In a great year for advisers working on large, complex and often cross-border M&A deals, all the world’s big universal banks can produce long lists of advisory credits on transformative multi-billion dollar transactions.

Morgan Stanley has its own long list, having advised, among others: Lafarge on its $46 billion merger with Holcim and the combined company’s subsequent €6.5 billion disposal of assets to CRH to meet regulatory requirements; ACE on its $26 billion acquisition of Chubb, the largest-ever US insurance deal; China Unicom on its sale together with two other operators of $33.7 billion of telecom tower assets to China Tower; and Freescale on its $16.7 billion sale to NXP semiconductor to create the top automotive semiconductor supplier.

But Morgan Stanley wins our award as best advisory bank this year after distinguishing itself in two crucial disciplines: successful defence against hostile takeover bids and advice to clients on how best to respond to shareholder activists.

“It can be challenging to keep a company independent in the face of a hostile approach given the current environment,” says Susie Huang, head of M&A for the Americas.