Bryan Song, Yi (Winnie) Wu & team Deutsche Bank First-place appearances: 2
Total appearances: 13
Team debut: 1998 Bank of America Merrill Lynch tumbles to third place after two years at No. 1. The 16-analyst troupe co-captained by Bryan Song and Yi (Winnie) Wu is spread across Beijing, Hong Kong, Mumbai, Seoul, Singapore, Taipei and Tokyo, and maintains a sector portfolio of nearly 100 names. With Asia’s banks up just 1 percent over the 12 months through late April, against the 3.8 percent gain by the broader regional market, Wu cautions that volatility may persist, owing to such concerns as interest rate deregulation, deleveraging of shadow banking systems and increases in defaults and nonperforming loans. But these changes could also bring much-needed strength to the sector, the BofA Merrill team believes. Such factors could impact earnings, Wu acknowledges, but they also are long overdue. “We believe 2014 will be a critical year for China to build on the initial progress made in 2013 in terms of reforms and reinstating the long-term sustainability of China’s economy and financial system,” she notes. “As the negatives materialize and the long-term outlook improves, we believe the sector could enjoy a better second half of 2014.” This year, Song also leads the No. 1 team in coverage of South Korea.
See also Bryan Song and Yi (Winnie) Wu's profile in the 2013 All-Asia Research Team and Song's profile in the 2012 All-Asia Research Team.