< The 2015 All-Asia Research TeamGilbert Lopez & teamMacquarie Capital SecuritiesFirst-place appearances: 2

Total appearances: 14

Team debut: 1996Gilbert Lopez shepherds his seven-strong troupe to second place, returning Macquarie Capital Securities to this lineup after a four-year absence and marking the firm’s best showing since 1998. The 44-year-old leader rejoined the firm in 2013, after six years spent covering the sector for Credit Suisse and J.P. Morgan. He and most of his colleagues work out of Manila, with one team member posted in Hong Kong. They monitor 42 companies and intend to expand that number to 50 in the year ahead. Clients applaud the recent increases in their travel and research output. The analysts “have become very proactive in their marketing and client service,” attests one portfolio manager. Lopez and his crew continue to tout BDO Unibank, the nation’s largest lender, deeming the shares still undervalued. They assumed coverage of the Manila-based bank in August 2013, assigning the stock an outperform rating at 76.25 pesos. By the end of last month, BDO had soared to 109 pesos, advancing 23.5 percent in the trailing 12 months alone and beating the domestic market by 7.9 percentage points. For the life of the call, the shares outdistanced their peers by 14.1 percentage points.