Overview

Bank of America Merrill Lynch has reclaimed the title of Top Global Research Firm.

The U.S.-based multinational firm was the top-rated research provider overall across eight rankings compiled by Institutional Investor in 2019, claiming a total of 234 team positions in equities and fixed income research across the U.S., Asia, Europe, Middle East, Africa, and Latin America.

The bank’s triumphant return to the top of the leaderboard — where BofA Merrill Lynch held court from 2011 to 2016 — comes after two years of playing second fiddle to JPMorgan Chase & Co. This year, JPMorgan took second place overall, having accumulated a total of 224 research team positions globally. Citigroup completes the top three, with 206 cumulative team positions.

Meanwhile, the equities-only leaderboard is led for the third year in a row by UBS, which captured a total of 155 equity research team positions globally. Citi, with 144 equity research team positions, jumped two spots to rank as this year’s No. 2 equity research provider.

II’s 2019 ranking of the Global Research Leaders is based on the total number of positions research firms earned across the following rankings: the All-America Research Team; the All-Asia Research Team; the All-China Research Team; the All-Europe Research Team; the All-Japan Research Team; the Emerging Europe, Middle East & Africa Research Team; the Latin America Research Team; and the Global Fixed-Income Research Team.