Economics & Strategy – Economics: Third

David Beker and Marcos Buscaglia guided the Bank of America Merrill Lynch team to a runner-up finish last year — the firm’s first appearance in the lineup since 2000. This year the quartet climbs to third place. The U.S. Federal Reserve’s intention to scale back its quantitative easing program is having an unsettling effect on Latin American economies. “Downside risks for growth in the region are increasing,” Buscaglia says. “An exception is Mexico, given that the prospects for a U.S. recovery are expected to help boost the Mexican economy.” The economists also believes that Latin American currencies will continue to weaken. “One key factor to watch is the impact of depreciation in the region on inflation,” he adds. “This risk is more evident for Brazil.” Beker, who is stationed in São Paulo, also co-leads teams that rank third in Local-Markets Strategy and runner-up for coverage of Brazil (with Claudio Irigoyen and Felipe Hirai, respectively). New York–based Buscaglia also co-captains crews that place second and runner-up, respectively, for reporting on Argentina (with Frank McGann) and Chile (with Felipe Hirai). The squad provides “thorough macroeconomic research and deep analysis,” according to one buy-side backer. — Carolyn Koo