For the first time ever, Mizuho Securities Group has toppled Nomura for first place in Institutional Investor’s annual All-Japan Sales Team ranking of the top equity sales teams in the country.
Nomura had been voted No. 1 every year since 2012, when the survey was introduced. SMBC Nikko Securities took third place in this year’s ranking, repeating last year’s rank, followed by Daiwa Securities Group at No. 4 and UBS at No. 5.
Institutional Investor received responses from 665 buy-side analysts and money managers from 323 firms, who collectively manage about $1 trillion in Japanese equities. The participants voted for their top four generalist salespeople based on eight attributes, including providing special services, understanding client needs and customized service, as well as knowledge and effective communication of research products. Each firm’s individuals were combined to form a team and create the leader table.
Much of the sell-side is focused on issues of regional diversification, said Keith Truelove, global head of equity distribution for SMBC Nikko Securities, which means domestic firms with Japan-focused expertise and knowledge will have a competitive advantage. “And, within any specific market, such as Japan, the requirements on a broker from institutional investors are becoming more complex,” Truelove added. “Our experienced distribution team members are best equipped to deliver to clients a powerful combination of advisory resources, execution capabilities, and primary offerings that we have developed in Japan over the years.”