Morgan Stanley may cement its status as the top underwriter for U.S. initial public offerings for a third year running with its lead role on Facebook Inc.'s planned $5 billion sale.Getting picked for the IPO, which Facebook disclosed in a regulatory filing yesterday, is a coup for Morgan Stanley and Michael Grimes, 45, a banker at the firm since 1995 who has longstanding ties to Facebook Chief Operating Officer Sheryl Sandberg, 42.Grimes, the global co-head of the bank's technology investment banking unit, and his Morgan Stanley colleagues won the biggest share of business underwriting U.S. IPOs by Internet companies last year, helping propel them to the top ranking in all U.S. IPOs, according to data compiled by Bloomberg. Facebook's sale would be the biggest Internet IPO on record.
Source: Business Week
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