< The 2016 All-Europe Research Team

Total appearances: 6

Team debut: 2011

It’s three consecutive years in third place for Barclays, whose European accounting and valuation research is now provided by Kenneth Lee and newcomer Deborah Taylor. The London-based duo is particularly focused on explaining International Financial Reporting Standards accounting changes and global tax developments to clients. Regarding pending and possible reforms, Taylor explains, “you’ve got a new accounting standard for banks in a couple years; you’ve got a new accounting standard for revenue in a couple years; and there’s also likely to be a change to lease accounting as well.” On the subject of global tax developments, she advises that governments will fundamentally need “to manage the amount of tax revenue they collect and try to clamp down on tax avoidance by multinationals,” with the Organization for Economic Cooperation and Development making several changes in this area in its Base Erosion and Profit Shifting, or BEPS, program. The researcher cites as an example the BEPS country-by-country reporting requirement, which from the end of this year will necessitate that many European multinationals, “for each country they operate in, will report their profits, the taxes they pay on those profits and other information that helps the tax authorities see whether they’re paying their fair share of taxes.” Taylor, 36, earned a master’s degree in physics from England’s University of Oxford and spent seven years in audit practice at Deloitte before beginning her sell-side career in this space at Citigroup in 2008. In June 2009 she moved to Barclays. Lee, 48, also serves as the firm’s head of European equity research.