The New York-based investment bank, Russia’s top M&A adviser in 2010 and 2011, tumbled to seventh in 2012 after Rosneft hired Morgan Stanley Russia Chairman Rair Simonyan and President Elena Titova to run its financial unit, data compiled by Bloomberg show.
Morgan Stanley lost ground to Bank of America Merrill Lynch and Citigroup Inc. (C), who are advising Rosneft on the two halves of its record $55bn acquisition of TNK-BP from BP Plc and a group of billionaires. Morgan Stanley is advising London-based BP on its deal.
'Last year, we may have been No. 7 on the tables, but I think we were No. 1 on fees', Gergely Voros, Morgan Stanley’s co-head for Russia, said in an interview in Moscow last week. 'A lot of people on the deal got paid nothing but got the league table credit'.
Russian companies conducted 373 mergers and acquisitions worth $109bn last year, the most since 2007’s record $128bn and 60%more than 2011’s $68bn, according to Bloomberg data.
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