In addition to rating firms on their general and specialist sales teams, this year we invited participants in the broader research survey to rank individual salespeople.
Voters could name their top five firms for their overall Generalist Sales across six performance attributes. For Specialist Sales, voters could rate up to seven firms in the eight categories.
The generalist and specialist salespeople were rated from 1-5. A numerical score was produced by weighting each vote based on the responding firm’s US equity commissions and the individual’s rating. The generalist salespeople scores produced a top ten leaders’ table while the specialist salespeople were ranked under each of the eight categories.
November 6, 2025
Morgan Stanley once again topped Extel’s annual ranking of U.S. sales teams. The rest of the 2025 generalist sales leaderboard mirrored its 2024 counterpart: J.P. Morgan took second followed by BofA Securities in third. Jefferies and UBS placed fourth and fifth respectively.
Voters could name their top five firms for the overall generalist sales across six performance attributes. For specialist sales, voters could rate up to seven firms in the eight categories.
The past year was defined by shifting monetary, fiscal, and regulatory policies; resilient earnings; and selective investor positioning amid elevated valuations, according to Nick Savone, Morgan Stanley’s global head of equity advisory. AI-driven growth, consumer strength, and sector rotations created meaningful dispersion across markets.
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J.P. Morgan & Morgan Stanley Top U.S. Corporate Access and U.S. Sales November 6, 2025
Methodology summary
Survey Information 