Citi and Morgan Stanley tie for first place in the 26th annual All-Asia Research Team.

The 2019 ranking of research firms — which for the first time weighted voters’ responses by their equity commissions — also saw UBS rank as the No. 3 firm, while Bank of America Merrill Lynch and Credit Suisse took fourth and fifth place, respectively.

The survey included some 5,300 investment professionals at more than 1,300 institutions with major securities holdings in the region, who voted for the top providers across 34 industry sectors and regions.

As part of this year’s survey, three additional leaderboards were produced which ranked firms based on their individual equity analysts and weighted survey responses based on assets under management. In each of these rankings, Citi remained at the top, with Morgan Stanley either tying for first or placing second.