Methodology

To determine the members of Institutional Investor’s 2021 Latin America Executive Team, we surveyed buy-side analysts, money managers and sell-side researchers at securities firms and financial institutions that cover the region, including those who cast and received votes in this year’s Latin America and All-Brazil Research Team surveys. Survey results reflect the opinions of 765 investment professionals at 382 financial services firms.

We asked the participants to rate the chief executive officers, chief financial officers and investor relations professionals at the companies in their coverage universes. CEOs were rated on their credibility, leadership and quality of communication. CFOs were rated on their ability in capital allocation, financial stewardship and quality of communication. For the Investor Relations programs, companies were rated on the following attributes: authority and credibility; business and market knowledge; earnings calls; responsiveness; virtual meetings/presentations; and timing, consistency and granularity of financial disclosure. All votes are weighted by rating (five being excellent; one being average) and aggregated to create the CEO, CFO and IR Program rankings. Additionally, voters were asked to rate the companies’ ESG metrics, analyst/investor day, and crisis management amid Covid-19.

The overall rankings in each of the categories —CEO, CFO, IR Professional, IR Company, ESG, Analyst Day, Covid-19 —are based on combined buy- and sell-side votes. Separate rosters (buy side, sell side) are also available for each award classification.

Honored Companies are companies who achieved at least one published position. To earn the designation of Most Honored Company, a company must achieve a weighted score of 20 or more points across the seven categories in the combined, buy-side and sell-side rankings, wherein each first-place position is worth three points; second place, two; and third place, one.

Midcap and Small Cap rankings were also produced. Midcap is defined as companies between $2 billion and $10 billion in market capitalization. Small cap is defined as companies with less than $2 billion in market capitalization. Market cap numbers were taken at the end of polling in March. To achieve Most Honored Company in the midcap and small cap ranking, companies must receive a weighted score of 20 or more points across the seven categories in the combined, buy-side and sell-side rankings.

Most Honored Companies were also calculated using all companies, regardless of market cap or sector, for the following countries: Argentina, Brazil, Chile, Colombia, Mexico, Panama, and Peru.

To be eligible for inclusion on the 2021 Latin America Executive Team, a company must be headquartered or have operational or executive headquarters in the region. We keep confidential the identities of the survey respondents to ensure their continuing cooperation. Voters must meet eligibility requirements, and winners must achieve a minimum vote count. All ballots are subject to review by our Research Operations Group.