The members of Institutional Investor’s 27th annual Latin America Research Team were selected by some 900 representatives of 481 institutions that collectively manage an estimated $300 billion in Latin American equities. The names of those surveyed are kept confidential to ensure their continuing cooperation.

Participants are asked to vote for individual analysts. In our annual team-based ranking, these votes are combined for firms in each sector. In addition, we have included an individual-based ranking. Instead of aggregating all of the firm’s scores under a given sector, the individual-based leader’s table ranks each of the winners by their personal score in the sector.

For both rankings, a numerical score is produced by weighting each vote based on both the respondent’s assets under management and place awarded the brokerage firm (first, second, third, or fourth). In addition, this year we introduce leader tables for the team and individual-based rankings weighted by commission ranges instead of a firm’s equity assets under management.

Ranks are then determined using those scores. Runners-up are designated when a team’s vote or an individual’s score come within 35 percent of the third teams’ scores. Research directors indicate which analysts oversee coverage of a particular sector, and the individuals cited as team leaders, for the team-based ranking, may not necessarily be the ones who receive the most votes on behalf of that firm. Co-leaders, where applicable, are deemed to share equal responsibility for directing coverage, and their names are presented alphabetically. Individuals who switched firms after February 15, 2019 are cited at their previous organizations.

This year only equity sectors are included in the ranking of 22 industries, countries/regions, and macroeconomic disciplines. All winning teams and individuals are required to meet a minimum vote threshold. Voters must meet eligibility requirements, and their ballots are subject to review by our Research Operations Group.

The 2019 Latin America Research Team was compiled by Senior Project Managers Tucker Ewing and Denise Hoguet and Associate Project Managers Denise Best and Xiao Lu.