Bank of America Merrill Lynch drops from second place to third. Heekyung (Kenneth) Whee and Thomas Wong oversee the Hong Kong–based crew; the latter analyst also co-captains (with David Cui) the squad deemed the best at coverage of China. Although described by one money manager as leaders of “one of the best stock-picking teams,” neither Whee nor Wong responded to repeated requests for an interview. BofA Merrill spokespeople likewise declined to participate on the record.— Pam Baker