Nearly everything else in the world has changed — but the top research team in Canada hasn’t.

RBC Capital Markets has again topped Institutional Investor’s All-Canada Research Team in the second annual ranking of the country’s top equity research firms.

The results were decided by directors of research and heads of investment at institutions with major securities holdings in Canada, who rated the country’s top research providers across 16 market sectors. Their votes were weighted by commission spending to produce a top-10 leaderboard of Canadian equity research firms.

Despite a year of upheaval caused by the coronavirus pandemic, the top five results mirrored the inaugural 2019 ranking...

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