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Top Global Research Firms

Ranking Overview Methodology

For weeks, attacks by a Yemeni-based militia on more than two dozen ships in the Red Sea have had the investment world on edge.

In the biggest disruption to global supply chains since the global pandemic, the problems along one of the world’s busiest trading routes — and the U.S.-led response — have raised more questions than answers across industries and countries. For equity analysts at BofA Securities, it has proved an apt crucible for operating in the global markets. Shipping analysts based in Singapore, London and the U.S. have been closely collaborating and tracking events, and “scheduling expert calls with clients to help them make sense of what’s happening,” according to Vikram Sahu, global head of equity research. At the same time, those insights are being shared with other sectors of BofA’s research team — from the insurance industry to automobiles and other consumer goods being shipped around the world. “You’ve got to have a culture of dialogue and collaboration between parts of the team,” Sahu said in an interview early in the new year. “If you do that, then you are truly playing to your comparative advantage and you are then thinking global, but acting local and that’s something that we actually have.”

The 2023 Global Research Leaders ranking lists sell-side research providers by the combined total number of positions earned across Institutional Investor’s 2023 research team surveys: the All-America Research Team; the Asia (ex-Japan) Research Team; the China Research Team; the Developed Europe Research Team; the Japan Research Team; the Emerging EMEA Research Team; the Latin America Research Team; and the Global Fixed-Income Research Team.

Results of each survey are published separately throughout the year, beginning in March 2023 with the Japan Research Team and concluding in January 2024 with the China Research Team. Rankings for each poll are determined strictly by using numerical scores. We take the number of votes awarded to each firm in a sector and weight it in relation to the size of the institution responding and rating it awarded. Firms are designated runners-up when their scores fall within 35 percent of the third-place scores. Please see the methodology associated with each survey for additional information.

The names of those surveyed are kept confidential to ensure their continuing cooperation. Voters must meet eligibility requirements, and winners must achieve a minimum vote count.

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