With just one ranking to go, Bank of America Merrill Lynch is in the lead to be this year’s Top Global Research Firm.

After racking up research team positions in the 2019 All-America Research Team, the bank’s global total stands at 233 team positions — a nine-point lead over current runner-up and 2018 champion JPMorgan Chase & Co. Citi, in third place, boasts 200 team positions, while fourth-place Morgan Stanley has 150.

UBS, an early frontrunner, has fallen to fifth place with 137 team positions. The Swiss bank performed strongly in the first five equity research surveys, but its overall score was dragged down by a lack of fixed-income research team positions.

The current tallies are based on each company’s combined results in the following rankings: All-Europe Research Team; All-Japan Research Team; Latin America Research Team; Emerging Europe, Middle East, and Africa Research Team; All-Asia Research Team; Global Fixed-Income Research Team; and All-America Research Team.

Only one ranking remains before the 2019 Top Global Research Firm is revealed: The All-China Research Team.