< The 2015 All-Asia Research Team
Total appearances: 16
Team debut: 1999For a fifth year running, the ten Bank of America Merrill Lynch analysts guided by Bryan Song, 45, top this lineup — and clients readily explain their staying power. “Their research quality is top-notch, and they have been wonderful in setting up meetings with companies,” attests one fund manager in Hong Kong. Covering 85 South Korean companies from their Seoul headquarters, the squad is enthusiastic about mortgage lender KB Financial Group. In October, noting that the domestic housing market was recovering and optimistic about management’s consideration of Jong Kyoo Yoon for the posts of chairman and chief executive officer, the researchers elevated their rating on the stock from underperform to buy. Yoon took office in November, and by late April the company had reduced delinquencies and begun to experience loan growth. At the end of that month, Seoul-based KB Financial’s shares were trading at 40,950 won, up 3.9 percent since the researchers’ upgrade, and they believe that a price of 48,000 won is justified. Another BofA Merrill favorite is LG Chem, a petrochemicals and plastics maker headquartered in Seoul, partly on the growing popularity of its batteries and related electronics for use in hybrid automobiles. The team’s price objective of 320,000 won implies a 4 percent upside to LG Chem’s value at the end of April. As he did last year, Song also works with Yi (Winnie) Wu in directing the third-place troupe on the Banks lineup. “Bryan sees the forest for the trees,” declares another admirer.