Morgan Stanley has been voted the best investment bank for raising equity finance by fund managers in the Reuters Institutional Investor European Equities Investment Survey 2002.

Morgan Stanley received 20.42% of the vote with Goldman Sachs in second place with 16.75%. UBS Warburg was the highest ranked European bank in third place ahead of Deutsche Bank in fifth place. Merrill Lynch was in fourth place with 12.42% of the vote.