Although Morgan Stanley slips one rung to third place, the five-strong squad headed by Andrew Sheets continues to win praise for “capturing key messages and transforming them into actionable research,” in the words of one Swiss supporter. Sheets, who is based in London, also pilots a runner-up crew in General Strategy. In December 2011 the strategists told clients to go long on senior financial credits, judging their spreads inexplicably wide — especially in light of improving sentiment toward the region’s sovereign debt. The iTraxx Europe Senior Financials Series 16 index, then at 300 basis points, tightened to 136 basis points through mid-January 2013. “Andrew is one of the best credit strategists in the U.K. sell side,” declares one portfolio manager in London. — Ben Mattlin
Matthew King & team Citi Barnaby Martin & team Bank of America Merrill Lynch |
Economics & Strategy – Investment-Grade Strategy: Third