Diego Celedón & team J.P. Morgan
The buy side says: “They have really differentiated themselves with consistently superior analysis.”
J.P. Morgan wins the pole position for a third year running — this time under the leadership of Diego Celedón, who joined the firm in October following the departure of Brian Chase for Itaú Asset Management. The two-member team, which works out of Santiago, also ranks second for its coverage of Argentina and third for North Andean Countries. The analysts “have a great on-the-ground presence and good access to management,” observes one portfolio manager. Chile’s “macro outlook is positive, with real gross domestic product growth consensus expectations at around 4.5 percent and inflation pressures declining significantly after the latest data,” Celedón says. “However, the political environment has not been particularly positive for investors,” owing to a very low government approval level — about 3 percent in the past 12 months, he says — and proposed corporate tax hikes “that are not particularly market friendly.” Celedón, 30, holds a bachelor of science degree in business administration from Pontificia Universidad Católica de Chile and covered the energy sector for Santander before joining J.P. Morgan last fall.. — Paul Sweeney
