This poll of securities analysts that track Latin America ranked 94 individuals in 22 categories. Morgan Stanley captured 9 team positions in 1997, ranking fourth overall. To pick its Latin America research team, Institutional Investor surveyed directors of research, heads of investments, portfolio mangers and analysts at more than 550 institutional investors with large Latin American holdings.

Morgan Stanley received placement on two first teams (Pulp & Paper and Equity Strategy), two second teams (Economics and Steel) and five runner up teams (Financial Institutions, Telecommunications, Mining & Nonferrous Metals, Mexico, and Beverages, Food & Tobacco).