Robin Bienenstock & team, Sanford C. Bernstein
The buy side says: “It’s a pleasure to interact with her.”
After having debuted in second place last year, the Sanford C. Bernstein foursome that Robin Bienenstock steers in London rises to the top. Bienenstock, 43, holds two master’s degrees, one in international relations from the University of Toronto and the other in international economics from Italy’s Università Commerciale Luigi Bocconi. She joined the firm in 2007 after working as a telecommunications analyst at McKinsey & Co. and her own firm. Clients say the team leader “is intellectually invigorating — whether you agree with her or not” and “learns as passionately as she teaches.” Last year the researchers focused on wireless pricing power, consolidation and growth in emerging markets. They are bearish on the sector for 2012 but still see cause for optimism: “The saga of regulation will shift to the wireline business, and this could bring very negative news for companies like Telefónica, Royal KPN and possibly Telecom Italia — these companies’ weaknesses will lend pricing power to better-equipped companies and cause wireless companies to outperform,” Bienenstock says. Deutsche Telekom, Portugal Telecom, Virgin Media and Vodafone Group are among the stocks the team recommends.
