Bank of America Merrill Lynch retains the top spot on Institutional Investor’s 2013 Top Global Research Firms: Year-to-Date roster — but not by much. When the totals from the All-Russia and Emerging Europe, Middle East & Africa research teams are added to the results of surveys published thus far in 2013, BofA Merrill has amassed 115 positions; Deutsche Bank, 114. However, the German firm’s total includes far more runners-up — 43 — than its U.S. rival, which has 36.

BofA Merrill is far ahead of all competitors when it comes to the number of analysts and teams deemed the best in their respective sectors. The firm has reigned victorious in 33 sectors thus far this year, including ten in the Emerging EMEA survey. Deutsche, with 26 first-team positions (including three in Emerging EMEA), comes in second when firms are measured by this metric, followed by UBS in third place, with 15. (UBS ties with J.P. Morgan for fourth place overall, with 77 total team spots.)

This table will be updated in late July, with the release of the 2013 Latin America and All-Brazil research team results.

  The 2013 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 		115 33 24 22 36
2 Deutsche Bank 2 114 26 27 18 43
3 Morgan Stanley 3 85 10 15 27 33
4 J.P.Morgan 4 77 10 20 10 37
4 UBS 77 15 12 13 37
6 Citi 70 14 9 15 32
7 Credit Suisse58 4 8 5 41
8 Nomura 5 57 8 11 11 27
9 Barclays 42 10 5 8 19
10 VTB Capital 21 6 6 2 7
11 Sberbank CIB 20 8 5 2 5
12 Daiwa Capital Markets616 3 2 4 7
13 Mizuho Securities Group15 0 6 3 6
14 SMBC Nikko Securities14 2 1 3 8
15 CLSA Asia-Pacific Markets13 1 1 2 9
16 Goldman, Sachs & Co. 7 12 1 0 3 8
16 Exane BNP Paribas 11 2 0 3 6
18 Mitsubishi UFJ Morgan Stanley
Securities Co. 		9 3 1 0 5
19 Sanford C. Bernstein & Co. 88 5 1 1 1
20 Crédit Agricole Cheuvreux 9 6 0 3 2 1
20 HSBC 6 0 1 0 5
20 Renaissance Capital6 0 0 1 5
20 Société Générale 6 0 1 1 4
24 Macquarie Securities105 0 1 1 3
25 Royal Bank of Scotland 4 0 2 1 1
26 BNP Paribas Securities3 1 1 0 1
26 Jefferies & Co.11 3 0 0 1 2
28 Berenberg Bank2 0 0 0 2
28 Kempen & Co.2 0 1 0 1
28 Otkritie Financial Corp.122 0 0 0 2
28 Santander132 1 0 0 1
28 SEB Enskilda2 0 1 0 1
33 ABG Sundal Collier1 1 0 0 0
33 Autonomous Research1 0 0 0 1
33 Banco Português de Investimento1 0 1 0 0
33 BBVA 1 0 0 0 1
33 BGC Partners1 0 0 0 1
33 China International Capital Corp.1 0 0 0 1
33 CIMB Securities1 0 0 0 1 
33 Commerzbank
Corporates & Markets		1 0 0 0 1 
33 Davy1 1 0 0 0 
33 EFG-Hermes1 0 0 0 1
33 Equita S.I.M. 1 1 0 0 0
33 Fidentiis Equities1 0 0 1 0
33 Gazprombank1 0 0 0 1
33 Goodbody Stockbrokers1 0 1 0 0 
33 Handelsbanken
Capital Markets 		1 0 0 1 0 
33 Helvea1 0 0 0 1 
33 Ichiyoshi Research Institute1 0 0 0 1
33 ING Equity Markets 141 1 0 0 0 
33 Intermonte1 0 0 1 0
33 JB Capital Markets1 0 0 0 1
33 Keefe, Bruyette & Woods1 0 0 0 1 
33 Kepler Equities151 0 0 0 1
33 MainFirst Bank1 0 0 0 1
33 N+1 Equities1 0 0 1 0 
33 Oddo Securities1 0 0 0 1 
33 Okasan Securities Co.1 1 0 0 0
33 Petercam1 0 00 1 
33 Rabobank1 0 0 1 0
33 Redburn Partners1 0 0 0 1 
33 Samsung Securities1 0 0 0 1 
33 UniCredit1 0 0 0 1 
33 Vontobel1 0 1 0 0
1 The totals shown include positions won on the All-Europe Research Team; the All-Europe Fixed-Income Research Team; the All-Japan Research Team; the All-Asia Research Team; the Emerging Europe, Middle East & Africa Research Team; and the All-Russia Research Team.
2 Positions on the All-Japan Research Team were for Deutsche Securities.
3 Positions on the All-Japan Research Team were for Morgan Stanley MU FG Securities Co.
4 Positions on the All-Europe Research Team were for J.P. Morgan Cazenove.
5 Positions 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-Japan Research Team were for Daiwa Securities Group.
7 Positions on the All-Europe 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 were for Goldman Sachs (Asia); and on the Emerging Europe, Middle East & Africa Research Team and the All-Russia Research Team, positions were for Goldman Sachs.v 8 Positions on the All-Europe Research Team were for Sanford C. Bernstein.
9 Positions on the All-Europe Fixed-Income Research Team were for Crédit Agricole Corporate Investment Bank.
10 Positions on the All-Asia Research Team were for Macquarie Capital Securities.
11 Positions on the All-Europe Research Team were for Jefferies International.
12 Positions on the All-Russia Research Team were for Otkritie Capital.
13 Positions on the All-Europe Research Team were for Santander Investment Bolsa.
14 Positions on the All-Europe Research Team were for IN G Financial Markets.
15 Positions on the All-Europe Research Team were for Kepler Capital Markets.