< The 2015 Latin America Research Team
Total appearances: 10
Team debut: 2005After spending the past three years at runner-up, Sara Delfim and Murilo Freiberger usher their São Paulo–based Bank of America Merrill Lynch troupe to third place. The four researchers “are the best at arranging meetings with top managements,” declares one Brazilian money manager, “and provide good food for thought on the stocks.” Of the nine Latin American capital goods stocks in their portfolio, Brazilian electrical equipment and components manufacturer WEG is a favorite. The team raised its rating on the stock from neutral to buy in early June, citing the company’s robust topline growth. By the middle of the following month, WEG had jumped 13.4 percent, to 19.61 reais, besting the regional sector by 6.8 percentage points. Delfim, 41, also co-captains, with Ronald Epstein, a team that rises from runner-up to third place on the Transportation roster. Freiberger, 28, arrived at BofA Merrill in August 2011 after working for more than five years as an equity analyst at HSBC, then Barclays. He received a bachelor’s degree in business administration from the Universidade de São Paulo.
