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Goldman Sachs ranked as the top adviser to companies targeted by activist investors during the first half of 2020 while Morgan Stanley dropped into fourth position as the coronavirus weighed on corporations, new Refinitiv data show.
FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid
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BOSTON: Goldman Sachs ranked as the top adviser to companies targeted by activist investors during the first half of 2020 while Morgan Stanley dropped into fourth position as the coronavirus weighed on corporations, new Refinitiv data show.
During the first six months of 2020, Goldman advised on 21 campaigns, including eBay, Twitter and Harley Davidson, down from 23 in the first half of 2019.
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Morgan Stanley, which had long held the top spot, advised on 8 campaigns compared with 9 the same time a year ago.
Spotlight Advisors, founded by Greg Taxin, a lawyer who worked as an investment banker at Goldman Sachs and Bank of America Securities, jumped into the No. 2 spot with 17 campaigns, including Tegna, Synalloy and GameStop, compared with 21 a year ago.
Spotlight works for both companies and activists, while most banks work only for corporations.
Evercore Partners worked on 10 campaigns, the same as a year ago, to take the No.3 spot.
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