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Industries – Banks: Second

Nana Otsuki
Bank of America Merrill Lynch

Nana Otsuki has been alternating between second place and third since debuting at No. 3 in 2010; this year the Bank of America Merrill Lynch analyst reclaims the second tier. “Her presentations of credit data are by far the most value added, enabling investors to clearly see the levers impacting capital and earnings,” says one fund manager in London. In July 2011, following her move from UBS, Otsuki resumed coverage of Sumitomo Mitsui Financial Group with a buy rating, deeming shares of the Tokyo-based outfit undervalued at ¥2,497. She has reiterated her stance repeatedly since, most recently early last December, partly on the double-digit growth of the bank’s international lending. The stock bolted 62 percent, to ¥4,045, and led the sector by 13 percentage points, through mid-March. — Ben Mattlin


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