Antoine Belge, Erwan Rambourg & team, HSBC Bank

The HSBC Bank threesome co-headed by Antoine Belge and Erwan Rambourg is No. 3 for a third year running. Belge and one analyst work out of Paris to be near the headquarters of many of the 23 companies the researchers follow; Rambourg relocated to Hong Kong from London last summer, a change he describes as “a very natural, logical move given that we are covering an industry for which all points East.” Clients approve: “With Erwan Rambourg now based in Asia, the team should have a better understanding of the Chinese luxury market — which has become key for companies in the sector,” says one. The analysts believe the best stocks to own are “those driven by the Asian consumer [rather than] those depending more on U.S. and European consumers,” Rambourg says. France’s PPR and Switzerland’s Cie. Financière Richemont are among the names the team favors.