Goldman Sachs ranked as the top adviser to companies targeted by activist invest...
BOSTON - Goldman Sachs ranked as the top adviser to companies targeted by activist investors in 2019, dethroning Morgan Stanley, which had held the top spot for three straight years, according to Refinitiv data published on Friday.
In 2019 Goldman advised on 48 campaigns to capture the top spot while Morgan Stanley advised on 37 campaigns, the data shows. In 2018, the two New York-based investment banks advised on roughly the same number of campaigns each with Morgan Stanley having been involved in 33, compared with Goldman Sachs’ 32, Refinitiv data shows.
League tables are compiled by various providers and are often used as data points in trying to woo new clients. But they seldom tell the entire story, bankers have said, noting that discrepancies can arise because many companies fend off activists privately and ask their advisers to stay silent about their involvement.
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