In the Wall Street equivalent of the BCS, Morgan Stanley (NYSE: MS) has won the national championship in mergers and acquisitions by a hair in one poll. After much jockeying and last minute lobbying, Morgan Stanley finished on top in the Dealogic's M&A league tables. It advised on 356 deals globally worth $594.6 billion.

Goldman Sachs (NYSE: GS) was the runner-up, advising on 346 deals worth $580.6 billion. Credit Suisse and JPMorgan came in third and fourth, respectively.

Not to be outdone, Goldman Sachs clinched the top spot in another bowl. According to Thomson Reuters, Goldman ended up on top, advising on 370 deals worth $554.5 billion in 2010. Morgan Stanley advised on 394 deals worth $538.1 billion.

So, both teams can claim victory.

A key determinant in this year's competition was the treatment of the Treasury's conversion of its TARP stock in American International Group. Deal Journal notes that Dealogic counted this transaction as a "change of control," worth $40.9 billion, which gave a leg up to Morgan Stanley. Thomson Reuters apparently did not include the transaction in its calculations.

For more:
- here's the article

Related Articles:
Goldman Sachs, Morgan Stanley duel for top spot in league tables
M&A strong in November
Goldman Sachs on top of merger world; Bank of America surges
Morgan Stanley to break out of Goldman Sachs' shadow