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With Finishing Line in Sight, BofA Merrill Extends Lead
With only the All-America Research Team and Fixed-Income Teams left to be announced, Bank of America Merrill Lynch retains its lead as the world's top research firm.

When the results of the All-Brazil Research Team survey are added to the totals of this years previously published rankings, Bank of America Merrill Lynch pulls further ahead of second-place Deutsche Bank on Institutional Investors Top Global Research Firms: Year to Date roster. BofA Merrill has amassed 163 positions thus far; Deutsche Bank, 146.
J.P. Morgan, which had been tied for third place, shakes itself loose. It now has 120 positions, just enough to push Morgan Stanley, with 119 spots, down one notch to fourth place.
UBS returns in fifth place, with a tally of 105, and Citi holds steady in sixth, with 102. These are the only firms that lay claim to more than 100 total team positions on the year-to-date list.
The results of only two surveys the All-America Research Team and the All-America Fixed-Income Research Team have yet to be published. But with those surveys accounting for 561 team positions this year, the winner of IIs Top Global Research Firm of 2012 is anything but a foregone conclusion. BofA Merrill was IIs Top Global Research Firm of 2011, with 226 total team positions. J.P. Morgan came in second overall, with 202 places, followed by Deutsche Bank in third, with 163. Rounding out last years top five were Morgan Stanley, with 141, then UBS, with 135.
II will update this table in early September with the results of the All-America Fixed-Income Research Team survey, then announce the Top Global Research Firm of 2012 in October, following publication of this years All-America Research Team results.
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 | 163 |
2 Positions on the All-Japan Research Team were for Deutsche Securities; on the Latin America Research Team and on the All-Brazil Research Team, positions were for Deutsche Bank 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 BTG Pactual acquired Celfin Capital in February 2012.
7 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.
8 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for Santander Investment Bolsa.
9 Positions on the All-Japan Research Team were for Daiwa Securities Group.
10 Positions on the All-Asia Research Team, the All-China Research Team and the All-India Research Team were for Macquarie Capital Securities.
11 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for Sanford C. Bernstein.
12 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).
13 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).
14 Positions on the All-China Research Team and the All-India Research Team were for Jefferies & Co.
15 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for HSBC Bank.