BofA Merrill Tops U.S. Fixed-Income Trading Team
Bank of America Merrill Lynch rises one rung to claim first place on the 2013 All-America Fixed-Income Trading Team, bumping last year’s winner, J.P. Morgan, down one notch, to second place, and depriving it of a clean sweep in this suite of rankings. The latter firm is No. 1 on both the All-America Fixed-Income Research Team (for a fourth year running) and the All-America Fixed-Income Sales Team (for a second straight year).
Barclays repeats in third place, while Citi jumps from No. 6 to No. 4. Rounding out the top five is Goldman, Sachs & Co., whose position is unchanged from last year. Nomura Securities International is this year’s only newcomer, debuting in tenth place.
Participants in the broader research survey were invited to name up to four firms that they feel provide the best trading services and, in a separate question, the best sales support for asset managers that invest in U.S. fixed-income securities.
The 2013 All-America Fixed-Income Trading Team reflects the opinions of 900 buy-side analysts and money managers at more than 400 firms that collectively manage some $8.3 trillion in U.S. fixed-income assets. Roughly 51 percent of the people who cast votes in the research team survey, representing 79 percent of the participating buy-side institutions, answered our question about trading services.
To view the full list of winning firms, click on the Leaders link located in the navigation table on the right. For information about how we compiled this ranking, click on Methodology.
Picking the Team
To select the members of Institutional Investor’s second All-America Fixed-Income Trading Team, we invited participants in the 2013 All-America Fixed-Income Research Team survey to name up to four firms that they feel provide the best trading services in the U.S.
We received responses from 900 buy-side analysts and money managers at more than 400 firms that collectively manage some $8.3 trillion in U.S. fixed-income assets. Roughly 51 percent of the people who cast votes in the research team survey, representing 79 percent of the participating buy-side institutions, answered our question about trading services.
We weighted votes by a respondent’s U.S. fixed-income assets under management and by the place awarded (first through fourth). The names of those surveyed and the institutions they work for are kept confidential 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.
The 2013 All-America Fixed-Income Trading Team was compiled by Associate Research Editor Denise Hoguet, with the assistance of Researchers Jill Michalek and Amy Kong, under the direction of Senior Research Editor Tucker Ewing and Director of Research Thomas W. Johnson.