Industries: Financials/Banks – Third
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Industries: Financials/Banks – Third

Saul Martinez & team J.P. Morgan

N ew York–based Saul Martinez piloted the J.P. Morgan team to third place last year in Banking & Financial Services. We split that sector into Financials/Banks and Financials/Nonbanks, and Martinez and his two associates claim the No. 3 spot in Banks. “They ask the most thought-provoking questions and provide the most carefully researched, logical explanations,” explains one buy-side enthusiast. The analysts upgraded Mexico’s Grupo Financiero Banorte from neutral to overweight in August 2011, at 42.85 pesos, on the grounds that concerns about the bank’s exposure to poor credit quality were overblown and that the firm would benefit from its growing exposure to high-yielding consumer loans. In April, after the stock had shot up 47.2 percent, to N$63.08, and bested the sector by 27.2 percentage points, they lowered it to neutral, on valuation. The downgrade proved premature: By mid-July the stock had risen 11.1 percent further, to N$70.08. — Ben Mattlin


Roberto Attuch & team Barclays

Marcelo Henriques & team BTG Pactual

Jorge Kuri & team Morgan Stanley

Tito Labarta, Mario Pierry & team Deutsche Bank Securities

Regina Longo Sanchez & team Itaú BBA

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