Morgan Stanley Rules the Roost in Russia

Even before the IPO market explosion, the bank was involved in landing the biggest deals. Now its history gives it a home field advantage

In April, when Russian state oil firm Rosneft hired Peter O'Brien to prepare its forthcoming multi-billion-dollar initial public offering, few were surprised at the choice of the former Morgan Stanley (MS) vice-president. That's because no bank has played as big a role as Morgan Stanley in pioneering the fast-growing market for Russian IPOs. Over recent years, the U.S. investment bank's success in winning Russian deals has left rival U.S. banks trailing in the dust.

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