NEW YORK, NY--(Marketwire - October 17, 2008) - In what can only be called a bittersweet
victory, investors declare Lehman Brothers researchers the best in the
business for a sixth straight year in Institutional Investor's 37th annual
All-America Research Team survey. Polling for the 2008 survey was completed
in July -- well before the Lehman bankruptcy, when that firm's team became
a part of Barclays Capital, which receives credit in the rankings.
Barclays is tops with a total of 45 total team positions, one more than
last year, widening its lead over No. 2 JPMorgan, which captured 38
positions, the same as in 2007. Merrill Lynch jumps two spaces to No. 3,
with 36 positions, six more than last year. Citi, with 33 positions, slips
one spot, to fourth, while UBS zooms from eighth place to fifth, with 26
positions. The year's biggest gainer is Credit Suisse, which vaults from
No. 11 to No. 7.
Full results of the survey, as well as analyst profiles, are available on
www.iimagazine.com and in the October 2008 Americas issue of Institutional
Investor.
The ranking is based on responses from more than 3,000 investment and
portfolio managers at more than 830 firms -- including 87 of the 100
biggest equity managers -- that manage an estimated $12.7 trillion in U.S.
equities.
The upheaval on Wall Street is reflected in the results, with 19 of the
No.1-ranked analysts new to the spot since last year. Thirteen of those
appear on top for the first time.
The All-America Research Team Survey covers 67 sectors in 10 broad
categories -- Basic Materials, Capital Goods/Industrials, Consumer, Energy,
Financial Institutions, Health Care, Macro, Media, Technology, and
Telecommunications -- as well as a ranking of "Best Up & Comers" who have
covered their sectors for three years or less.
THE LEADERS
Rank Rank Total Team Total Team
2008 2007 Firm Positions 2008 Positions 2007
---- ---- -------------------------- -------------- --------------
1 1 Barclays Capital(1) 45 44
2 2 JPMorgan Securities(2) 38 38
3 5 Merrill Lynch 36 30
4 3 Citi 33 37
5 8 UBS 26 20
6 7 Sanford C. Bernstein & Co. 23 22
7 11 Credit Suisse 17 12
8 9 Goldman, Sachs & Co. 16 15
9 12 Deutsche Bank Securities 13 8
10 6 Banc of America Securities 10 23
10 9 Morgan Stanley 10 15
(1) Figures cited including 2007 rank, refer only to Lehman Brothers
researchers who moved to Barclays Capital after this year's polling was
concluded. Analysts who were with Barclays before its parent firm acquired
Lehman last month were tabulated separately. Barclays Capital did not rank
last year.
(2) Rank and team positions for 2007 were for Bear, Stearns & Co., which
JPMorgan Chase & Co. acquired in May; JPMorgan Securities ranked fourth
last year.
About Institutional Investor
Now entering its fifth decade, Institutional Investor has consistently
distinguished itself among the world's foremost financial publications with
ground-breaking journalism and incisive writing that provides "must read"
intelligence for a global audience. Throughout the year, Institutional
Investor offers a host of proprietary research and rankings that serve as
respected industry benchmarks, informing and influencing its carefully
targeted circulation base throughout the year. Visit
www.iimagazine.com.
Contact Information: Contact:
Chris Cavanagh
212-224-3369
chriscavanagh@iimagazine.com