That puts around $4 billion of clear blue water between it and the other Morgan, JPMorgan, which is second. Moreover, its tally doesn’t include the $2.1 billion megamerger in India between Birla-Tata and BPL’s cellular networks, orchestrated by Morgan Stanley. That’s because the deal was between two private companies and under Thomson Securities Data’s rules, only publicly verifiable transactions sizes can count towards league table credits.