NEW YORK, NY--(Marketwired - Feb 4, 2014) - Bank of America Merrill Lynch leaps two places to lead the 2014 All-Europe Research Team, Institutional Investor's 29th annual ranking of the region's best sell-side equity analysts. The firm captures 32 positions, an increase of five over last year.
Complete survey results can be found at www.institutionalinvestor.com.
Deutsche Bank, which topped the roster from 2011 through 2013, drops only one notch even though it loses 10 positions, leaving it with 28. Close behind is J.P. Morgan Cazenove, which returns to the top three after slipping to fifth place last year. Its total increases by two, to 27.
The year's biggest upward mover, Exane BNP Paribas, bolts from ninth place to sixth. The Paris-based brokerage adds four spots, for a total of 15.
These results reflect the opinions of 2,200 money managers at roughly 800 institutions that collectively manage approximately $6 trillion in European equities.
Research needs differ among investors in European equities, with some preferring a country-specific approach, others emphasizing industry-based coverage and still others favoring macroeconomic analyses. Some firms excel at providing one type of research while proving less successful at the others.
For instance, when only the positions earned in the survey's nine country/region sectors are considered, Deutsche Bank ranks highest, with four spots, followed by BofA Merrill, with three. But the U.S. bank emerges victorious when the 31 industry sectors are examined. BofA Merrill seizes 26 positions within this group, five more than second-place J.P. Morgan Cazenove. However, the latter firm is the undisputed champion in Economics & Strategy, earning a place in all five of those sectors.
Survey participants were also asked which firms field the most supportive sales teams and, separately, which ones provide the best trading services. J.P. Morgan Cazenove was the top choice in both categories.
For more information contact Alyssa Walker at awalker@iiresearchgroup.com or (212) 224-3677.
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