SECOND TEAM
Daniel Abut & team Citi
The Citi trio conducted by Daniel Abut held the top position for the past two years; the analysts slip one notch this year, but team leader Abut, who is based in New York, is still considered “the Julio Iglesias of bank analysts — the reliable voice of experience,” according to one loyalist. The team upgraded Grupo Financiero Galicia from sell all the way to buy in May 2010, at 2.12 Argentinean pesos, partly on management’s decision to dump some bad bonds from its balance sheet. In April, after shares of the Buenos Aires–based firm had skyrocketed 162.7 percent, to 5.57 pesos, they downgraded it to hold, on valuation. The stock advanced 8.4 percent further, to 6.04 pesos, through July.