When the results of the All-Russia Research Team survey are added to the totals of this year’s previously published rankings, Bank of America Merrill Lynch maintains a slender lead over Deutsche Bank on Institutional Investor’s Top Global Research Firms: Year to Date roster. BofA Merrill has 138 positions; Deutsche, 134.

The latter firm’s cumulative total gets a big boost from Deutsche Bank’s strong showing on the Russia team: It finishes in third place overall, with seven positions, and is the highest-ranked non-Russian bank in that survey. BofA Merrill wins only one position and lands in a four-way tie for tenth place (with Alfa-Bank, Morgan Stanley and Otkritie Financial Corp.).

UBS, with a cumulative total of 104 positions, defends the No. 3 spot it has held since April. Two firms, however, are breathing down its neck: J.P. Morgan and Morgan Stanley tie for fourth place overall, with 100 positions each.

Institutional Investor  will update this table in early August with the results of the Latin America and All-Brazil research teams. Those are two of the only four such rankings yet to be published this year; the others are the All-America Fixed-Income Research Team and the All-America Research Team.

The 2012 Top Global Research Firms: Year to Date 1
RANK FIRM TOTAL
TEAM
POSITIONS 		FIRST
TEAM 		SECOND
TEAM 		THIRD
TEAM 		RUNNERS —
UP
1 Bank of America Merrill Lynch 138

34 32 31 41
2 Deutsche Bank 2 134 36 28 24 46
3 UBS 104 17 19 17 51 
4 J.P. Morgan  3 100  16  25  13  46 
4 Morgan Stanley  4 100  9  11  21  59 
6 Citi 94 20 17 14 43
7 Credit Suisse 68 4 8 13 43
8 Nomura 5 65 10 11 11 33
9 China International Capital Corp. 27 5 4 2 16
10 Barclays Capital 25 6 3 6 10
11 CLSA Asia-Pacific Markets 23 4 6 1 12
12 Goldman, Sachs & Co. 6 22 3 5 4  10 
13 VTB Capital 21  10  3  3 5 
14 Daiwa Capital Markets 7 19 2  1  3  13 
15 Troika Dialog 17  6  4  3  4 
16 Renaissance Capital 14  2  0 2  10 
17 Macquarie Securities  8 13  1 2 7  3 
18 Sanford C. Bernstein & Co. 9   10  7  0  1 2
19 Exane BNP Paribas 10 8 1  2  0  5 
19  Kotak Securities 8  4  1 1 2 
19  Royal Bank of Scotland 8  0 1  1  6 
22  Mitsubishi UFJ Morgan Stanley Securities Co.  7 2  1  1  3
22  Mizuho Securities Group  7  0 2  2 3 
24 BNP Paribas Securities  11 6 0 0  2  4 
24 Jefferies International 12 6  0  2  1  3
26 SMBC Nikko Securities  5 1 1 0  3 
27 Crédit Agricole Cheuvreux 4 0 3 0 1
27 Société Générale 4 0 0 0 4
29 Edelweiss Securities 3 0 1 1 1
29 IIFL 3 0 1 0 2
29 Standard Chartered Bank 3 0 1 0 2
32 HSBC 13 2 0 0 2 0
32 Kempen & Co. 2 0 1 0 1
32 Redburn Partners 2 0 0 1 1
35 ABG Sundal Collier 1 0 0 1 0
35  Alfa-Bank          1 0 0 0 1
35 Autonomous Research 1 0 0 0 1
35 Banco Portugu ê s de Investimento 1 0 0 1 0
35 Batlivala & Karani Securities India 1 1 0 0 0
35 Berenberg Bank 1 0 0 1 0
35 Carnegie Investment Bank 1 0 0 0 1
35 CIMB Securities 1 0 0 0 1
35 Commerzbank Corporates & Markets 1 0 0 0 1
35 Davy 1 1 0 0 0
35 EFG-Hermes 1 0 1 0 0
35 Emkay Global Financial Services 1 0 0 1 0
35 Equita S.I.M. 1 0 1 0 0
35 Fidentis Equities 1 0 1 0 0
35 Goodbody Stockbrokers 1 0 1 0 0
35 Handelsbanken Capital Markets 1 0 1 0 0
35 Helvea 1 0 0 0 1
35 ICICI Securities 1 0 0 1 0
35 ING Equity Markets 1 0 0 1 0
35 Intermonte 1 0 0 0 1
35 Investec Securities 1 0 0 1 0
35 Keefe, Bruyette & Woods 1 0 0 0 1
35 MainFirst Bank 1 0 1 0 0
35 Mediobanca 1 0 0 1 0
35 N+1 Equities 1 0 0 0 1
35 Oddo Securities 14 1 0 0 0 1
35 Okasan Securities Co. 1 0 0 0 1
35 Otkrite Financial Corp. 1 0 0 0 1
35 Petercam 1 0 0 0 1
35 Rabobank 1 1 0 0 0
35 Samsung Securities 1 0 0 0 1
35 Santander 14 1 1 0 0 0
35 SEB Enskilda 1 1 0 0 0
35 Vontobel 1 0 0 1 0
35 Yuanta Research 1 0 0 0 1
1 The totals shown include positions won on Institutional Investor’s All-Europe Research Team, All-Europe Fixed-Income Research Team, All-Japan Research Team, All-Asia Research Team, All-China Research Team, All-India Research Team, Emerging-Markets Equity & Fixed-Income Research Team and All-Russia Research Team.
2 Positions on the All-Japan Research Team were for Deutsche Securities.
3 Positions on the All-Europe Research Team were for J.P. Morgan Cazenove.
4 Positions on the All-Japan Research Team were for Morgan Stanley MUFG Securities Co.
5 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for Nomura International; on the All-Japan Research Team, positions were for Nomura Securities Co.
6 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for Goldman Sachs International; on the All-Japan Research Team, positions were for Goldman Sachs Japan Co.; positions on the All-Asia Research Team, the All-China Research Team and the All-India Research Team were for Goldman Sachs (Asia); and positions on the Emerging-Markets Equity & Fixed-Income Research Team and the All-Russia Research Team were for Goldman Sachs.
7 Positions on the All-Japan Research Team were for Daiwa Securities Group.
8 Positions on the All-Asia Research Team, the All-China Research Team and the All-India Research Team were for Macquarie Capital Securities.
9 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for Sanford C. Bernstein.
10 Positions on the All-Europe Fixed-Income Research Team were for BNP Paribas Securities; on the All-Asia Research Team and the All-China Research Team, positions were for BNP Paribas Securities (Asia).
11 Positions on the All-Europe Research Team were for Exane BNP Paribas; on the All-Asia Research Team and the All-China Research Team, positions were for BNP Paribas Securities (Asia).
12 Positions on the All-China Research Team and the All-India Research Team were for Jefferies & Co.
13 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for HSBC Bank.
14 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for Santander Investment Bolsa.