The Corporate Matchmaking Machines
JPMorgan, BofA Merill Lynch, and Kepler Cheuvreux lead the 2019 ranking of Europe’s Top Corporate Access Providers.
Who are the best corporate access providers in Europe? The answer depends on who you ask.
Investors and corporations have starkly different opinions on which sell-side firms do the best job of facilitating meetings and communication between the buy-side and Europe’s public companies. The two camps made their contrasting views known to Institutional Investor for the 2019 ranking of Europe’s Top Corporate Access Providers.
According to the buy-side — represented by 740 investors across 457 firms — this year’s top corporate access provider is JPMorgan Chase & Co. The bank rose up the ranks from fourth place last year, causing UBS and Bank of America Merrill Lynch to slide to second and third place, respectively.
[II Deep Dive: UBS Named Europe’s Top Corporate Access Provider]
None of these three investor favorites, however, earned podium spots from the 336 corporate respondents surveyed this year. Instead, European companies gave Paris-based Kepler Cheuvreux the crown for the second year running. Exane BNP Paribas ranked as the second-best firm, up from No. 5 last year, while Morgan Stanley placed third.
Even weighting the buy-side results by commissions — which gives the sell-side’s highest-paying clients more say — produced no consensus between investors and corporations on the top-three providers. BofA placed first in this commission-weighted ranking, followed by JPMorgan in second and UBS in third.
To compile the 2019 rankings, buy-side voters were asked to rate corporate access providers on four elements: one-on-one meetings, reverse road shows, conferences, and non-deal road shows.
Corporate respondents judged providers on five criteria: introductions to investors, site tours, investor conferences, non-deal road shows, and coordination of feedback between investors and corporations.