Seven firms earn at least one first-place position on the 2016 All-Brazil Research Team, Institutional Investor’s annual ranking of the nation’s leading sell-side analysts:
• Bradesco BBI
• BTG Pactual
• HSBC
• Itaú BBA
• J.P. Morgan
• Morgan Stanley
• Santander
BTG Pactual analysts top seven of the survey’s 19 sector rosters; Itaú, six.
Three individuals are dual champions this year: BTG Pactual’s Thiago Duarte is No. 1 in Agribusiness and Food & Beverages, while Eduardo Rosman tops the two Financials categories, Banks and Nonbanks. Ilan Goldfajn of Itaú is the winner in Economics and Sovereign Debt.
Ciro Matuo, also of Itaú, and Morgan Stanley’s Guilherme Paiva share the record for longest winning streaks — six years — in Corporate Debt and Equity Strategy, respectively.
Listed below — first by industry sector, then by economics and strategy — are this year’s top-ranked researchers:
Industries
Agribusiness (see also Food & Beverages)
Thiago Duarte
BTG Pactual
Third year in a row at No. 1
Capital Goods
Renata Faber
Itaú BBA
First time on top since 2013
Chemicals & Oil
Luiz Carvalho
HSBC
Second year in a row atop the roster
Education
Bruno Giardino
Santander
Second consecutive first-place appearance
Electric & Other Utilities
Antonio Junqueira
BTG Pactual
Fourth straight No. 1
Financials/Banks (see also Financials/Nonbanks)
Eduardo Rosman
BTG Pactual
First appearance in first place
Financials/Nonbanks (see also Financials/Banks)
Eduardo Rosman
BTG Pactual
First appearance in first place
Food & Beverages (see also Agribusiness)
Thiago Duarte
BTG Pactual
Third straight year leading this lineup
Health Care
Thiago Capucci Macruz
Itaú BBA
First time on top in this sector
Metals & Mining
Leonardo Correa
BTG Pactual
Second straight No. 1
Pulp & Paper
Lucas Ferreira
J.P. Morgan
First appearance in first place
Real Estate
Luiz Maurício Garcia
Bradesco BBI
Second straight year at No. 1
Retailing
Fábio Monteiro
BTG Pactual
Third sector victory in the past four years
Technology, Media & Telecommunications
Susana Salaru
Itaú BBA
Second consecutive year in first place
Transportation
Fernando Abdalla
J.P. Morgan
Second straight No. 1
Economics & Strategy
Corporate Debt
Ciro Matuo
Itaú BBA
Sector champion for a sixth straight year — and the ninth time in ten years
Economics (see also Sovereign Debt)
Ilan Goldfajn
Itaú BBA
Fourth year in a row at No. 1
Equity Strategy
Guilherme Paiva
Morgan Stanley
Sixth consecutive year in first place
Sovereign Debt (see also Economics)
Ilan Goldfajn
Itaú BBA
First time on top in this sector
II’s 2016 All-Brazil Research Team reflects the opinions of 714 buy-side analysts and portfolio managers at 375 firms that oversee an estimated $252 billion in Brazilian equities and $136 billion in Brazilian debt.
