< The 2016 All-Asia Research Team

Billy Ng & team
Bank of America
Merrill Lynch
First-Place Appearances: 3

Total Appearances: 6

Team Debut: 2011

In second place is the Bank of America Merrill Lynch group captained by Billy Ng, which held the top spot for the past three years. “We value their analysis logic and trend pieces for key factors,” says one money manager. “They are hardworking and always keep clients well informed with sector insights.” Stationed in Hong Kong, Seoul, Singapore and Sydney, the four researchers monitor a dozen regional gaming and lodging companies. They are upbeat about “the long-term potential of Macau, given limited supply in China,” says Ng, 41. From the second half of this year, that industry should benefit from continued growth, new quality supply and further potential for policy relaxation on the mainland. “As the visibility of the sector continues to improve,” he adds, “we believe investors will be more willing to consider its long-term potential, further driving a rerating.” Ng “is an experienced gaming analyst and has a great relationship with company managements,” a second admirer remarks. “He organized a lot of meeting thought out the year.”