To determine the members of Institutional Investor’s 34th annual 2019 All‐Europe Research Team, we sent questionnaires to the directors of research and heads of investment at institutions worldwide. We received responses from some 1,900 money managers at 865 institutions overseeing an estimated $4 trillion in European equities. The names of individuals surveyed are kept confidential to ensure their continuing cooperation.

For the team-based rankings, votes were combined for each firm to form a team in each sector. A numerical score was produced by weighting each vote based on both the respondent’s European equity assets under management and the place they awarded the brokerage firm (first, second, third or fourth). Ranks were determined using those scores.

The analyst rankings were produced using each individual’s score. In both rankings, runners‐up are designated when scores come within 35 percent of the third place score. Individuals who switched firms after September 28, 2018 are cited at their previous organizations.

This year we have introduced additional leader tables for both the team and individual-based rankings produced by weighting with commission ranges instead of a firm’s equity assets under management.

Voters must meet eligibility requirements, and winners must achieve a minimum vote count. In the industry sectors, only those analysts who publish independent research as defined by the Financial Conduct Authority are eligible to be recognized as team members. No such restriction applies to team members in Countries & Regions and Economics & Strategy. All ballots are subject to review by our Research Operations Group.

The 2019 All‐Europe Research Team survey produced complete publishable results (first‐, second‐and third‐place teams) in all 44 sectors polled.

This ranking was compiled by Senior Project Managers Tucker Ewing and Denise Hoguet, along with Associate Project Managers Denise Best, Amy Kong, and Xiao Lu.