BofA Merrill Researchers Race Ahead

When the nine positions it captures on the 2013 All-Brazil Research Team are added to the results of surveys published earlier this year, Bank of America Merrill Lynch pulls even farther out in front of second-place Deutsche Bank onInstitutional Investor’sGlobal Research Leaders: Year-to-Date roster. The U.S. bank now has an aggregated total of 147 to its German counterpart’s 119; the latter firm does not earn any spots in the Brazil survey.

摩根士丹利(Morgan Stanley)四positi获胜ons in Brazil, bringing its overall total to 105. It holds steady in third place but now has only a one-point advantage over fourth-place J.P. Morgan, whose six positions on the All-Brazil Research Team boost its total to 104. These four are the only firms to have earned triple-digit team-position totals thus far this year, with results of eight of II’s 12 research team surveys already published: the All-Europe and All-Europe Fixed-Income research teams (February); the All-Japan Research Team (April); the All-Asia Research Team (May); the All-Russia and the Emerging Europe, Middle East & Africa research teams (June); and this month’s Latin America and All-Brazil research teams. Still to come: the All-America Fixed-Income Research Team (September), the All-America Research Team (October), the All-China Research Team (November) and the All-India Research Team (December).

This table will be updated September 10, when the results of the 2013 All-America Fixed-Income Research Team are announced.

The 2013 Top Global Research Firms: Year to Date1
RANK	FIRM	TOTAL TEAM POSITIONS	FIRST TEAM	SECOND TEAM	THIRD TEAM	RUNNERS — UP
1	Bank of America Merrill Lynch	147	37	33	30	47
2	Deutsche Bank2	119	26	27	19	47
3	Morgan Stanley3	105	15	20	29	41
4	J.P. Morgan4	104	14	23	15	52
5	Credit Suisse	84	6	13	11	54
6	UBS	77	15	12	13	37
7	Citi	70	14	9	15	32
8	Nomura5	57	8	11	11	27
9	Barclays	42	10	5	8	19
10	Itaú BBA	40	14	11	8	7
11	BTG Pactual	38	13	6	4	15
12	VTB Capital	21	6	6	2	7
13	Sberbank CIB	20	8	5	2	5
14	Santander6	18	1	2	2	13
15	Daiwa Capital Markets7	16	3	2	4	7
16	Mizuho Securities Group	15	0	6	3	6
17	SMBC Nikko Securities	14	2	1	3	6
18	CLSA Asia-Pacific Markets	13	1	1	2	9
19	高盛(Goldman Sachs)& Co.8	12	1	0	3	8
20	Exane BNP Paribas	11	2	0	3	6
1 The totals shown include positions won on the All-Europe Research Team; the All-Europe Fixed-Income ResearchTeam; the All-Japan Research Team; the All-Asia Research Team; the Emerging Europe, Middle East & AfricaResearch Team; the All-Russia Research Team; the Latin America Research Team and the All-Brazil Research Team. 2 Positions on the All-Japan Research Team were for Deutsche Securities; on the Latin America Research Team,positions were for Deutsche Bank Securities. 3 Positions on the All-Japan Research Team were for Morgan Stanley MU FG Securities Co. 4 Positions on the All-Europe Research Team were for J.P. Morgan Cazenove. 5 Positions on the All-Europe Research Team and the All-Europe Fixed-Income Research Team were for NomuraInternational; on the All-Japan Research Team, positions were for Nomura Securities Co. 6 Positions on the All-Europe Research Team were for Santander Investment Bolsa. 7 Positions on the All-Japan Research Team were for Daiwa Securities Group. 8 Positions on the All-Europe Research Team were for Goldman Sachs International; on the All-Japan ResearchTeam, positions were for Goldman Sachs Japan Co.; positions on the All-Asia Research team were for GoldmanSachs (Asia); and on the Emerging Europe, Middle East & Africa Research Team and the All-Russia Research Team,positions were for Goldman Sachs.