“A good institutional sales team understands research from the client’s perspective,” one U.S.-based participant in the 2011 All-America Research Team told Institutional Investor. (We keep confidential the identities of the survey respondents and their firms to ensure their continuing cooperation.) “The team has to have a good understanding of our investment process and recommend research that fits our style.”
我们向今年调查的调查询问了这笔货币经理和其他投票的其他人，告诉我们哪些公司涉及美国股权研究销售。我们从投资专业人员中听到了大约90％的参加的买方机构;这些公司在美国股票投资的12.7万亿美元中排名出了三个。（在右侧的导航表中，单击方法，了解有关该排名如何编译的更多信息。）
When it comes to sales, Morgan Stanley is the clear favorite and takes the top spot on the inauguralAll-America Sales Team.
“摩根斯坦利的团队在一步时，一直在提供对分析师的访问权限，”一个买边的支持者说。“他们还为该部门和我们覆盖的公司提供增值的想法和交易”颜色“。
来自中国的投资组合经理同样热情。“摩根士丹利的美国销售团队具有最广泛的覆盖范围和最具积极主动的态度 - 他们不仅针对不同的客户量身定制的服务，但即使对于同一客户公司内的不同个人而言，”这项调查参与者也表示。
尼克萨内塞，苏丹安那州的摩根士丹利美国股权研究销售努力指出，“客户正在变得越来越全球，因为他们需要考虑宏观经济力量在分析中的影响。”该公司的分析师跨越地区和投资学科合作，为客户提供广泛的研究。
In post-polling interviews with respondents, some money managers told us about certain reps who they felt deserved special recognition. Among the comments we heard: “Laura Adams understands my strategy and is very helpful in screening analyst content — I leverage her thorough knowledge of the Morgan Stanley research product and thereby save time in evaluating ideas”; John Kelly “is one of the most thorough and diligent sell-side representatives in the industry”; London-based Guy Trust “has a unique fundamental understanding of our investment process and therefore provides great tailor-made service — it’s all about taking the time to understand what we are looking for, and he takes that time”; and technology sector specialist Tom Wigg “has excellent context and relays it on a timely basis, with a one-stop e-mail or call about what is happening in tech.”
奥斯汀Zeigler被引用最多,与客户noting that the utilities specialist “is very proactive and well informed about the sector — his earnings summaries and weekly calendars are very useful tools,” and another pointing out that Zeigler “is very timely and very thorough, and he does it all without the support of a utility-sector industry analyst — which makes it all the more impressive.”
J.P. Morgan was deemed to have the second-best sales force. “It’s all about service — and J.P. Morgan provides a high level of it,” insists one supporter.
“Terrific team all around,” adds another. “Whenever I’ve asked them for something, the turnaround time is immediate. Whatever I’ve asked for, they’ve always gone out of their way to get it for me. They are the definition of a helpful sales team — they don’t bombard you with unnecessary stuff, they just give you what you need to do your job well.”
Several clients pointed to the team’s ability to access the firm’s expansive platform. “They leverage the resources available to them including equities, sovereigns, corporates, high yield, foreign exchange, commodities, politics and more,” says one New York-based asset manager, while a buy-side enthusiast from the opposite coast declares that “J.P. Morgan has one of the most comprehensive suites of research offerings out there, across sectors and asset classes, and our rep does a great job of sending the most relevant research and calling daily to try to answer our questions, get feedback, talk about upcoming events, and coordinate follow-up with analysts when necessary.”
Michael Bossidy, a 12-year veteran of J.P. Morgan who oversees distribution for the Americas, notes that client expectations have changed amid the global financial turbulence.
“预览和审查宿舍已经占据了更加动态的研究，”Bossidy说。“客户继续寻找对他们无法从总体投资组合管理或分析师席位获得的公司的研究。这与产品规模，产品推出，工厂开发，市场发展，定价发展，增长的规定，增长，市场趋势，产品调查以及供应链的见解等产品。“
To gather this information, the 61-strong J.P. Morgan squad supporting U.S. equity research sales has offices in London to serve clients across Europe, and in Atlanta, Boston, Chicago, New York, St. Louis and San Francisco to work with clients in the Americas.
投资者印象深刻。“他们知道投资组合中的名字，能够让我们在相关的管理团队面前 - 它还有助于他们了解我们的投资组合经理人如何获得研究，”一个人说。“我们也从未有过会议或访问分析师的问题。”
BofA Merrill Lynch Global Research, which comes in fourth, “has a sales team that is extremely responsive and knows how to leverage its best-in-class in-house research,” observes one satisfied client. “Some of the most valuable company management meetings I’ve had were through BofA, because their sales team understands what we are interested in and their analysts have the network to get those meetings.”
这些天最受投资者的哪些兴趣？“宏观专题和全球部门覆盖范围在一个远离单一股票风险的世界中越来越重要，”史蒂夫凯勒，美洲股权研究销售负责人。然而，“即使在这些时间的宏观主题中，我们也会知道我们的客户价值alpha-生成的想法和我们的研究部门专注于这项努力。”
Keller在世界各地的11个办事处管理60名销售人员：香港和东京在亚洲;法兰克福，伦敦，巴黎和苏黎世在欧洲;和波士顿，芝加哥，达拉斯，纽约和美国的旧金山，他的工作人员约有70％是基于美国的。
该团队也称赞其在访问超越股票超越股票的平台方面的人才。“我们在多个资产类别中拥有销售覆盖范围 - 高收益债券，拓扑债券，信用默认交换，选项。在所有这些专业人员之间，他们在协调活动和会议上做得很好，并射击我们的相关研究。“
Some salespeople were singled out for special praise. John Guster “is responsive and often attends the meetings himself to better understand the issues that concern us,” we were told, while media specialist Joel Armijo “is a great source of information.”
One asset manager in the New York City area rolled out the superlatives when talking about BofA: “They’re the best sales team on the Street hands down — indispensible.”
更新：本文已修订，以显示第三位的德意志银行证券，第四个和巴克莱资本登陆的BOFA Merrill Lynch全球研究在5号。由于编程错误，原文基于不正确的结果。领导表最初发布的是正确的。