Morgan Stanley lost ground counseling companies on takeovers last year as boutique advisory firms Moelis & Co. and Perella Weinberg Partners gained market share in the slowest period for deal-making since 2003.
Goldman Sachs Group Inc., JPMorgan Chase & Co. and Citigroup Inc. were the world’s top three advisers on mergers and acquisitions in 2008, data compiled by Bloomberg show. The three New York-based firms advised on $1.8 trillion of takeovers in all, a 44 percent decline from the previous year’s total of $3.2 trillion. Morgan Stanley dropped three places from the second spot, working on bids worth 61 percent less than in 2007.
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