MORGAN Stanley was the top underwriter this year, handling a total of $80.8bn (£52.5bn) from 322 deals and replacing JPMorgan in the number one spot.
According to Thomson Reuters data JPMorgan slipped to third with 346 deals worth $62bn.
Goldman Sachs stood second with $65.7bn from 237 deals, while Bank of America Merrill Lynch was fourth with 285 deals worth $55.5bn.
Meanwhile UBS was fifth with 263 deals amounting to $47.4bn.
Morgan Stanley netted $1.5bn in fees to grab the top position from JPMorgan, which earned $1.4bn.
Goldman Sachs was third ($1.3bn) and Bank of America Merrill Lynch ($1.2bn) and UBS ($962m) were fourth and fifth, respectively.
Asia Pacific accounted for 60 per cent of the total initial public offerings (IPO) activity so far in 2010, boosted by big deals such as Agricultural Bank of China's $22.1bn listing and AIA Group's $20.5bn float, the figures showed.