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Gap Narrows Between Top Two Global Research Firms
With just four analyst rankings left this year, two names are taking a very clear lead in our year-round tally of the firms with the most analysts in our global research analyst rankings.

When the results of the All-Russia Research Team survey are added to the totals of this years previously published rankings, Bank of America Merrill Lynch maintains a slender lead over Deutsche Bank on Institutional Investors Top Global Research Firms: Year to Date roster. BofA Merrill has 138 positions; Deutsche, 134.
The latter firms cumulative total gets a big boost from Deutsche Banks strong showing on the Russia team: It finishes in third place overall, with seven positions, and is the highest-ranked non-Russian bank in that survey. BofA Merrill wins only one position and lands in a four-way tie for tenth place (with Alfa-Bank, Morgan Stanley and Otkritie Financial Corp.).
UBS, with a cumulative total of 104 positions, defends the No. 3 spot it has held since April. Two firms, however, are breathing down its neck: J.P. Morgan and Morgan Stanley tie for fourth place overall, with 100 positions each.
Institutional Investor will update this table in early August with the results of the Latin America and All-Brazil research teams. Those are two of the only four such rankings yet to be published this year; the others are the All-America Fixed-Income Research Team and the All-America Research Team.
The 2012 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 | 138 |
2 Positions on the All-Japan Research Team were for Deutsche Securities.
3 Positions on the All-Europe Research Team were for J.P. Morgan Cazenove.
4 Positions on the All-Japan Research Team were for Morgan Stanley MUFG Securities Co.
5 Positions on 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-Europe Research Team and the All-Europe Fixed-Income 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, the All-China Research Team and the All-India Research Team were for Goldman Sachs (Asia); and positions on the Emerging-Markets Equity & Fixed-Income Research Team and the All-Russia Research Team were for Goldman Sachs.
7 Positions on the All-Japan Research Team were for Daiwa Securities Group.
8 Positions on the All-Asia Research Team, the All-China Research Team and the All-India Research Team were for Macquarie Capital Securities.
9 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for Sanford C. Bernstein.
10 Positions on the All-Europe Fixed-Income Research Team were for BNP Paribas Securities; on the All-Asia Research Team and the All-China Research Team, positions were for BNP Paribas Securities (Asia).
11 Positions on the All-Europe Research Team were for Exane BNP Paribas; on the All-Asia Research Team and the All-China Research Team, positions were for BNP Paribas Securities (Asia).
12 Positions on the All-China Research Team and the All-India Research Team were for Jefferies & Co.
13 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for HSBC Bank.
14 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for Santander Investment Bolsa.