Bank of America Merrill Lynch bumps Deutsche Bank down to second place on Institutional Investor’s 2013 Top Global Research Firms: Year-to-Date roster, thanks in part to capturing the top spot (for a third straight year) on the All-Asia Research Team. As of last month the U.S. bank had been trailing its German counterpart by three total team positions; now it’s ahead by four.
However, the two firms share the winner’s circle when it comes to the number of analysts and teams deemed the best in their respective sectors; each has 23.
UBS and Morgan Stanley, which had been in fourth and fifth place overall, respectively, rise one rung apiece as J.P. Morgan falls from No. 3 to No. 5.Morgan Stanley achieves its status with far fewer runner-ups — 25 — than any other top-five firm. The totals for the remaining four include at least 32 runner-up positions each. UBS has the most, with 36.
This table will be updated on June 18, with the release of the 2013 Emerging Europe, Middle East & Africa and All-Russia research team results.
The 2013 Top Global Research Firms:
Year to Date 1 Rank Firm Total Team
Positions First
Team Second
Team Third
Team Runners-
Up 1 Bank of America
Merrill Lynch 91 23 17 18 33 2 Deutsche Bank 2 87 23 22 10 32 3 UBS 75 15 11 13 36 4 Morgan Stanley3 72 9 14 24 25 5 J.P. Morgan4 70 10 18 10 32 6 Nomura 5 57 8 11 11 27 7 Citi 51 10 6 7 28 8 Credit Suisse 49 4 7 4 34 9 Barclays 42 10 5 8 19 10 Daiwa Capital Markets 6 16 3 2 4 7 11 Mizuho Securities Group 15 0 6 3 6 12 SMBC Nikko Securities 14 2 1 3 8 13 CLSA Asia-Pacific Markets 13 1 1 2 9 14 Exane BNP Paribas 11 2 0 3 6 15 Mitsubishi UFJ
Morgan Stanley Securities 9 3 1 0 5 16 Sanford C. Bernstein & Co.7 8 5 1 1 1 16 Goldman, Sachs & Co. 8 8 1 0 2 5 18 Crédit Agricole Cheuvreux 9 6 0 2 2 1 18 Société Générale 6 0 1 1 4 20 Macquarie Securities 10 5 0 1 1 3 21 Royal Bank of Scotland 4 0 2 1 1 22 BNP Paribas Securities 3 1 1 0 1 22 Jefferies & Co.11 3 0 0 1 2 24 Berenberg Bank 2 0 1 0 1 24 HSBC 2 0 0 0 2 24 Kempen & Co. 2 0 1 0 1 24 Santander12 2 1 0 0 1 24 SEB Enskilda 2 0 1 0 1 29 ABG Sundal Collier 1 1 0 0 0 29 Autonomous Research 1 0 0 0 1 29 Banco Português
de Investimento 1 0 1 0 0 29 BBVA 1 0 0 0 1 29 China International
Capital Corp. 1 0 0 0 1 29 CIMB Securities 1 0 0 0 1 29 Commerzbank
Corporates & Markets 1 0 0 0 1 29 Davy 1 1 0 0 0 29 Equita S.I.M. 1 1 0 0 0 29 Fidentiis Equities 1 0 0 1 0 29 Goodbody Stockbrokers 1 0 1 0 0 29 Handelsbanken
Capital Markets 1 0 0 1 0 29 Helvea 1 0 0 0 1 29 Ichiyoshi Research Institute 1 0 0 0 1 29 ING Equity Markets13 1 1 0 0 0 29 Intermonte 1 0 0 1 0 29 JB Capital Markets 1 0 0 0 1 29 Keefe, Bruyette & Woods 1 0 0 0 1 29 Kepler Equities14 1 0 0 0 1 29 MainFirst Bank 1 0 0 1 0 29 N+1 Equities 1 0 0 0 1 29 Oddo Securities 1 0 0 0 1 29 Okasan Securities Co. 1 1 0 0 0 29 Petercam 1 0 0 0 1 29 Rabobank 1 0 0 1 0 29 Redburn Partners 1 0 0 0 1 29 Samsung Securities 1 0 0 0 1 29 UniCredit 1 0 0 0 1 29 Vontobel 1 0 1 0 0 1 The totals shown include positions won on the All-Europe Research Team, the All-Europe Fixed-Income Research
Team, the All-Japan Research Team and the All-Asia Research Team.
2 Positions on the All-Japan Research Team were for Deutsche Securities.
3 Positions on the All-Japan Research Team were for Morgan Stanley MUFG Securities Co.
4 Positions on the All-Europe Research Team were for J.P. Morgan Cazenove.
5 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for NomuraInternational; on the All-Japan Research Team, positions were for Nomura Securities Co.
6 Positions on the All-Japan Research Team were for Daiwa Securities Group.
7 Positions on the All-Europe Research Team were for Sanford C. Bernstein.
8 Positions on the All-Europe Research Team were for Goldman Sachs International; on the All-Japan Research Team,positions were for Goldman Sachs Japan Co.; and positions on the All-Asia Research team were for Goldman Sachs(Asia).
9 Positions on the All-Europe Fixed-Income Research Team were for Crédit Agricole Corporate Investment Bank.
10 Positions on the All-Asia Research Team were for Macquarie Capital Securities.
11 Positions on the All-Europe Research Team were for Je‚ eries International.
12 Positions on the All-Europe Research Team were for Santander Investment Bolsa.
13 Positions on the All-Europe Research Team were for ING Financial Markets.
14 Positions on the All-Europe Research Team were for Kepler Capital Markets.