Economics & Strategy – Equity Strategy: Third

Claiming third place for Citi is Kingsmill Bond, who slips from the No. 2 spot. “He is excellent at finding unusual angles to look at hot themes on the market such as gas revolution, Russian market infrastructure or Russian pension reform,” applauds one loyalist. The effect of sluggish consumer demand is overstated, Bond believes. “We expect the market to struggle this year not because of weak domestic growth but because of the end of the commodity cycle,” the strategist says. He is directing investors toward “domestic sectors with low penetration, whose growth can thus be much faster than [real gross domestic product] growth.” Examples include financial services, infrastructure and residential construction. “Kingsmill is quick-witted and instantly likable — professionally, however, is where he excels,” observes one U.K.-based money manager. “His major contribution these past two years was recognizing the real threat of a commodity slowdown, and his resultant calls.” Bond left Citi in April to become chief strategist at Sberbank CIB. — Thomas W. Johnson