Amidst a historic election cycle, money managers have designated BTG Pactual as the new No. 1 provider in Latin America research.
The Brazil-based firm, which placed third last year, moved up two spots to take the crown, edging incumbent victor JPMorgan Chase & Co. into second place.
It was a narrow victory: With analyst teams ranking in 23 sectors, BTG Pactual claimed just one more team position than JPMorgan, which had 22 ranked teams. In its 26th iteration, the 2018 Latin America Research Team included 25 sectors comprising industries, regions, and macroeconomic disciplines.
Institutional Investor received responses from more than 1,000 investors at over 500 institutions managing about $320 billion in the region’s equities and $414 billion in its debt. These respondents elected a familiar slate of sell-side firms to the top five, with Itau BBA holding steady at No. 3. Bank of America Merrill Lynch, which ranked second last year, tied for fourth place with UBS, which finished fifth in 2017.