Methodology

To determine the members of Institutional Investor’s 2019 Latin America Executive Team, we surveyed buy-side analysts, money managers and sell-side researchers at securities firms and financial institutions that cover the region, including those who cast and received votes in this year’s Latin America and All-Brazil Research Team surveys. We asked these individuals to name the best chief executive officers, chief financial officers and investor relations professionals at the companies in their coverage universes. All votes are weighted by place (first, second, third, fourth). We also asked them to identify up to four companies that excel in up to six investor relations attributes including: senior executives are accessible; IR team is well informed and empowered to speak authoritatively on the company’s behalf; timely and appropriate level of financial disclosure; responds quickly and thoroughly to requests; most constructive conference calls; and website provides thorough and easy-to-access investor information. Responses to these questions are aggregated to produce an overall rank for each company. Nominations for Best Analyst Days and Best ESG/SRI Metrics were also asked as a separate component.

The overall rankings in each of the four categories — Best CEO, Best CFO, Best IR Professional, Best IR Company — are based on combined buy- and sell-side votes. Separate rosters (buy side, sell side) are also available for each award classification. To earn the designation of Most Honored Company, a company must achieve two or more top-three appearances in the combined (buy side and sell side) rankings results; rank is determined by weighted score wherein each first-place position is worth three points; second place, two; and third place, one. When a tie exists in the weighted score, companies are ordered according to the number of ranked positions they receive in their industry sectors.

Using the same approach as above, a mid-cap and small-cap ranking was produced as we recognized companies with less than $10 billion in market capitalization. In the mid-cap and small-cap ranking, a sector must have at least four companies nominated to publish. To be eligible for inclusion on the 2019 Latin America Executive Team, a company must be headquartered or have operational or executive headquarters in the region. We keep confidential the identities of the survey respondents and their firms to ensure their continuing cooperation. Voters must meet eligibility requirements, and winners must achieve a minimum vote count. All ballots are subject to review by our Research Operations Group, and final results may be inspected by an independent auditor. Survey results reflect the opinions from 1,000 investment professionals at over 430 financial services firms.