Industries – Financials/Banks: First

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Regina Longo Sanchez
Itaú BBA

First-place appearances: 1

Total appearances: 3

Analyst debut: 2011

Regina Longo Sanchez of Itaú BBA rises one rung to capture the crown for the first time. “Regina is a very solid analyst, has a deep understanding of the industry, is well connected and is focused on producing quality sell-side research,” proclaims one advocate. Sanchez, who is based in São Paulo and covers 14 stocks, is optimistic for the year ahead. “The spreads pressure is over; asset quality is gradually improving for most of the Brazilian banks; and provisions for loan-loss expenses are expected to contract in 2013, despite the reduction in the pace of economic expansion,” she contends. Her top picks include Brasília’s BB Seguridade Participações, the insurance arm of Banco do Brasil, which offers “great growth potential,” she says. “The recently diminishing profitability of traditional banking products has been an incentive for banks to prioritize sales of insurance and pension products.” Also recommended: Banco Bradesco, on the grounds that the Osasco-based financial services firm continues to focus on efficiency improvements through cost control. “This, combined with sound results from the insurance business, service fees and flat loan-loss provision expenses versus 2012, leads us to reiterate our outperform rating,” she explains. Sanchez, 40, earned a bachelor’s degree in industrial engineering at the University of São Paulo and an MBA at the Wharton School of the University of Pennsylvania. She joined Itaú in 2010 from Itaú Unibanco Holding, where she worked in investor relations. — Leslie Kramer

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