For six years in a row, emerging market investors in Europe, the Middle East, and Africa have ranked Bank of America Merrill Lynch as their preferred source of research. This year — in an updated version of the Emerging EMEA Research Team — BofA Merrill Lynch makes its seventh straight appearance at the top of the roster.

More than 2,100 portfolio managers and buy-side analysts from almost 1,000 asset management firms voted to determine the ninth annual Emerging EMEA Research Team. Voters — who ranked research providers as part of the 2019 Extel survey — separately rated firms and analysts across 18 sectors to create two leaderboards, one recognizing the top firms overall in each sector, and another recognizing the firms with the best analysts in each sector.

BofA Merrill Lynch topped both leaderboards. HSBC and UBS tied for second in the firm ranking, but HSBC came out ahead in the analyst-based ranking, where UBS placed third.