UBS Topples Credit Suisse as Asia’s Top Sales Firm

UBS improved upon last year’s second place finish to take top honors in亚博赞助欧冠’s2018 All-Asia Sales Team.

该地区最佳销售团体的第七次年度排名在基于八个属性，包括关系质量，响应能力和为亚洲（前日本）组合提供最佳全球背景的八个属性，将银行交换速度与信贷速度进行了速度。

摩根士丹利和花旗分别在2018年全亚洲研究团队调查的参与者投票的第三和第四次。最实质的跳跃属于美国银行美林林奇，从第九点搬出了四个斑点到第五位。

The 2018 sales ranking debuts just before the inclusion of more than 200 Chinese mainland stocks into MSCI’s emerging markets benchmark. The addition starts in mid-June, and will further propel China into institutional investors’ purview.

Despite their small weighting in comparison to the total index, the China-A shares should not be underestimated, according to Jonathan Jenkins, Asia Pacific head of distribution services and prime brokerage at Credit Suisse. “It’s the first step along a road, which will radically alter investment flows into the region.” Credit Suisse puts initial international fund flow estimates for the domestic A-share market at $15 billion by August, with the potential to near $300 billion with full inclusion, which is expected to happen within a decade.

This changing landscape will likely have survey respondents—comprising more than 2,400 buy-side analysts and money managers at 940 firms managing about $1.5 trillion in Asian equity assets—looking to top-tier firms for guidance as market observers expect some volatility. Chris Hunt, Asia Pacific head of equities distribution at UBS, reported that the bank has made a number of new hires and continues to add capacity to its China A-shares team. “China A-shares will be an increasingly important component in the investment universe of our clients,” Hunt said.

此外，亨特补充道，全球利率和通胀的方向是一个央行政策仍然不一致的世界的客户的头脑。“投资者正在寻求深入了解货币政策如何正常化的速度，”他说。

Despite a rockier global macro environment, Asia remains a region with strong growth and relatively stable geo-politics, according to Julia Raiskin, Asia Pacific head of investor sales and relationship management at Citi.

Trade war concerns, relations between China and the U.S. and the potential for reunification of the Korean peninsula are noteworthy to investors, she said, “but a global perspective on what is driving markets remains the most important and one that investors are increasingly placing a premium on.” Building a sales team to both satisfy future clients and attract talent is paramount to Citi, Raiskin added, and the bank is investing in technology and digitizing its workplace. “Automating processes has also meant that our salespeople can spend more time learning about their clients, problem solving, and building deeper relationships,” she said.

But all the technology in the world can’t replace what Raiskin believes are key characteristics of any good sales team: curiosity, flexibility, and diversity. “Diversity is important because we serve over 3,000 investor clients in the region. They all have different geographic footprints, investment processes, ambitions, and constraints,” she said. “It is a lot harder to imagine these scenarios than to assemble a team that has the variety of skills and experiences to match those of our clients.”

Jenkins concurred that the industry is in for a disruptive few years, especially as investors rely on fewer providers and the sell side develops “better and more dynamic” pricing models for research. “It’s likely there will be a further consolidation in market share during that time,” he said. “Paying a fixed dollar amount for an analyst’s time doesn’t reflect the way markets work in my opinion, and I hope we will get to more elegant solutions soon.”

But regardless, he said, “Quality relationships endure through good times and bad times, which means they need to be built on partnership and trust.”