MORGAN Stanley, Merrill Lynch & Co, and J.P. Morgan Chase & Co, which dominated takeover advisory work in Singapore during 2001, saw their business slump more than 95% last year as volume shrank three-quarters.
Morgan Stanley fell to seventh place from first with US$554mil of takeovers, less than a 40th of the US$22.4bil it worked on in 2001, Bloomberg data showed. Merrill’s US$428mil ranked it ninth, down from second with US$20.9bil, while J.P. Morgan tumbled to 15th place with US$86mil, from third with US$18.7bil.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
