UBS improved upon last year's second place finish to take top honors in Institutional Investor's 2018 All-Asia Sales Team.

The seventh annual ranking of the region's best sales groups saw the bank swap positions with Credit Suisse based on eight attributes including quality of relationships, responsiveness, and providing the best global context for Asia (ex-Japan) portfolios.

Morgan Stanley and Citi remained at third and fourth, respectively, as voted on by participants in the 2018 All-Asia Research Team survey. The most substantial jump belonged to Bank of America Merrill Lynch, which moved up four spots from ninth to clinch fifth place.

This year's ranking was determined by survey respondents comprising more than 2,400 buy-side analysts and money managers at 940 firms managing about $1.5 trillion in Asian equity assets (excluding Japan).