Skip to content
Subscriber Only

Morgan Stanley Overtakes JPMorgan as Top Bank for Equity Sales

Morgan Stanley ended JPMorgan Chase & Co.’s two-year run as the top banker for stock sales after charging the lowest fees and winning deals from the U.S., China and Brazil to arrange offerings by state-owned companies.

The 75-year-old securities firm’s global market share rose to 10.4 percent in 2010 on $72.7 billion of initial public offerings, additional sales and convertible bond issues, its first top ranking in six years, according to preliminary data compiled by Bloomberg. JPMorgan was second with $59.7 billion, while Goldman Sachs Group Inc. dropped to third after its share of U.S. equity underwriting slumped to the lowest level since at least 1998, the data show.