Nese Guner, Haley Tam, Citi
Newcomer Nese Guner and Haley Tam reclaim third place for Citi. Last year the firm finished as a runner-up with a team led by Tam, who has “great knowledge and insight into the details of the asset management businesses and the regulatory landscape,” according to one ally. The London-based analysts track 15 companies — two fewer than last year — and expect to expand coverage this year: “There are exchanges and asset managers waiting in the wings to launch initial public offerings,” Tam explains. However, the outlook for growth and stability is still clouded by the sovereign-debt crises, she adds. “Because of this, we believe markets are likely to remain volatile and range-bound, with thin trading volumes, as investor appetite for risk looks likely to remain low,” she says. The duo is recommending firms that are “best in class” in their areas of expertise, have strong balance sheets and offer exposure to growth in emerging markets; current favorites include Aberdeen Asset Management and Ashmore Group, both of which are headquartered in the U.K.