David Errington, Chen Luo & team Bank of America Merrill Lynch
The buy side says: “Quick responses and good access to management.”
David Errington, 48, and new co-leader Chen Luo, 35, pilot Bank of America Merrill Lynch’s group of 15 to a second consecutive first-place finish. Clients say that Errington, who works out of Melbourne, “has a great handle on the big Australian supermarkets” and that Hong Kong–based Luo “is always enthusiastic about presenting his latest ideas.” The squad covers more than 60 companies, and current top picks include Chinese retailer Wumart Stores, which the analysts upgraded from neutral to buy in February 2011, at HK$14.95, on its steady growth outlook and quality operations, among other considerations. The stock climbed 13.3 percent, to HK$16.94, through March 2012. Errington has a master’s degree in commerce from the University of Melbourne; he joined BofA Merrill in 1991 from National Australia Bank. Luo, who received a master’s in business management from China’s Nanjing University, went to the firm in 2004 from BearingPoint. — Leslie Kramer
