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Morgan Stanley Dominates Global Equity Underwriting in Q2 2022
16 Jul
Summary
- Morgan Stanley's equity underwriting revenue jumped 42% year-over-year in Q2 2022
- Morgan Stanley's $500 million in revenue outpaced rivals JPMorgan Chase ($465 million) and Goldman Sachs ($428 million)
- Whiplashing trade war updates held up some capital raising at the start of Q2 2022
During the second quarter of 2022, Morgan Stanley experienced a significant surge in its global equity underwriting business. The New York-based bank raked in $500 million in revenue from initial public offerings, follow-on stock sales, convertible bonds, and other equity capital markets products, a 42% jump from the same period last year.
This quarterly haul outstripped Morgan Stanley's closest rivals, including JPMorgan Chase & Co. and Goldman Sachs Group, which brought in $465 million and $428 million, respectively, according to earnings releases this week.
The strong performance came despite some initial headwinds. Whiplashing trade war updates held up some capital raising at the beginning of the second quarter, but a June comeback led to Morgan Stanley's best global equity underwriting fee haul since the fourth quarter of 2021.
