BTG Pactual — winner of this year’s All-Brazil Research Team — has also been recognized for having the country’s best sales team.

The Brazilian bank jumped from last year’s third place finish to the No.1 spot in Institutional Investor’s eighth annual ranking of the country’s best generalist sales squads. Ranking behind BTG Pactual were second-place finisher UBS and third-place contender JPMorgan Chase & Co.

The ranking was based on responses from 450 investment professionals at more than 300 institutions managing approximately $119 billion in Brazil equities.

Participants in the survey were asked to rank generalist sales teams based on sales attributes such as quality of service and understanding of client needs. The final scores were calculated by weighting responses based on Brazil equity assets under management.

In addition to this AUM-weighted leaderboard, and in line with other II surveys, a new top 10 debuted this year which emphasized the commissions paid by each voting firm. When the results were weighted by commission bands, BTG Pactual remained the No. 1 firm, followed by JPMorgan in second and Bradesco BBI in third.