In its October 11, 1999 issue, Fortune presented its annual list of the world’s most admired companies (by industry), based on a survey of senior executives in each of the 24 industries represented, and relevant Wall Street analysts. Morgan Stanley is the #2 most admired company in the Securities and Diversified Financials category, up from fourth in 1998.

Global companies are rated based on: overall management quality, product or service quality, innovativeness, acquiring and keeping talent, value as a long-term investment, financial strength, commitment to community and the environment, use of corporate assets, and global business acumen.