Itaú BBA leads the Latin America Research Team for a second straight year, but Bank of America Merrill Lynch and J.P. Morgan share top honors when it comes to logging the most sector-topping appearances. Each of these firms is No. 1 in seven of the survey’s 25 categories, compared with five for Itaú. BTG Pactual captures three top spots; Citi, Morgan Stanley and Santander, one each.
Listed below — first by industry sector, then by countries and regions and finally by economics and strategy — are this year’s top-ranked squads:
Industries
Agribusiness
Fernando Ferreira, Isabella Simonato & team
Bank of America Merrill Lynch
The BofA Merrill squad jumps from third place to claim its first victory since 2011, when Ferreira was solo leader.
Capital Goods
Sara Delfim, Murilo Freiberger & team
Bank of America Merrill Lynch
This crew leaps two levels to land in the top spot.
Cement & Construction
Gustavo Cambauva, Gordon Lee & team
BTG Pactual
Newcomer Cambauva replaces Marcello Milman as Lee’s co-captain of a team that delivers a fifth straight sector-topping performance.
Electric & Other Utilities
Maria Carolina Carneiro & team
Santander
Under Carneiro’s direction, Santander vaults from runner-up to secure its first victory in this sector in more than 20 years.
Financials/Banks
Domingos Falavina & team (see also Financials/Nonbanks)
J.P. Morgan
Falavina replaces Saul Martinez as leader of the J.P. Morgan squad, which celebrates a fourth straight appearance in first place.
Financials/Nonbanks
Domingos Falavina & team (see also Financials/Banks)
J.P. Morgan
The J.P. Morgan crew helmed by Falavina spends a second consecutive year atop the roster.
Food & Beverages
Pedro Leduc, Andrea Teixeira & team (see also Health Care)
J.P. Morgan
Newcomer Leduc joins Teixeira in managing the J.P. Morgan team that advances from second place to first.
Health Care
Joseph Giordano, Andrea Teixeira & team (see also Food & Beverages)
J.P. Morgan
Teixeira, with assistance from newcomer Giordano, guides the J.P. Morgan team that rockets from runner-up all the way to the top.
Metals & Mining
Rodolfo De Angele & team
J.P. Morgan
De Angele pilots J.P. Morgan to the top of the roster for the first time since 2005, when Daniel Altman was team leader.
Oil, Gas & Petrochemicals
Vicente Falanga Neto, Frank McGann & team
Bank of America Merrill Lynch
McGann, now co-leading with previously unranked Falanga Neto, shepherds the BofA Merrill squad to first place for the first time since 2001.
Pulp & Paper
Leonardo Correa, César Pérez-Novoa & team (see also North Andean Countries)
BTG Pactual
Under the direction of Correa and Pérez-Novoa, BTG Pactual rises from second place to first.
Real Estate
Adrian Huerta, Marcelo Motta & team
J.P. Morgan
J.P. Morgan achieves its first sector victory thanks to the efforts of Huerta, Motta and their associates.
Retailing
Joaquín Ley, Thiago Capucci Macruz & team
Itaú BBA
Itaú BBA under Ley and Macruz bolts from runner-up all the way to the top.
Technology, Media & Telecommunications
Susana Salaru, Gregorio Tomassi & team
Itaú BBA
After a year at runner-up, Itaú BBA recaptures first place, led by Salaru and Tomassi.
Transportation
Fernando Abdalla & team
J.P. Morgan
Abdalla drives his J.P. Morgan squad into the winner’s circle for a fourth year running.
Countries & Regions
Argentina
Ricardo Cavanagh & team (see also Chile)
Itaú BBA
Cavanagh’s crew at Itaú BBA rises one rung to claim its fourth victory in five years.
Brazil
Carlos Constantini & team
Itaú BBA
Constantini and his Itaú BBA colleagues are No. 1 for a second year in a row — and the fourth time in five years.
Chile
Ricardo Cavanagh & team (see also Argentina)
Itaú BBA
Cavanagh guides his Itaú BBA squad up two levels to finish on top for the first time.
Mexico
Carlos Capistran, Carlos Peyrelongue & team
Bank of America Merrill Lynch
After a year in second place, the BofA Merrill troupe under Capistran and Peyrelongue return to No. 1.
North Andean Countries
Alonso Aramburú, César Pérez-Novoa & team (see also Pulp & Paper)
BTG Pactual
BTG Pactual spent the past two years at No. 2. This time around Aramburú and Pérez-Novoa pilot the team back to first place.
Economics & Strategy
Corporate Debt
Anne Milne & team
Bank of America Merrill Lynch
It’s two straight years on top for Milne and her BofA Merrill associates.
Economics
David Beker, Claudio Irigoyen & team (see also Sovereign Debt)
Bank of America Merrill Lynch
Irigoyen replaces Marcos Buscaglia as Beker’s co-captain, but the firm captures first place for a second consecutive year.
Equity Strategy
Guilherme Paiva & team
Morgan Stanley
Morgan Stanley under Paiva celebrates a fifth straight year at No. 1.
Local Markets Strategy
Dirk Willer & team
Citi
Vaulting from runner-up, where it spent the past two years, all the way to the top spot is the Citi group under Willer.
Sovereign Debt
Jane Brauer, Claudio Irigoyen & team (see also Economics)
Bank of America Merrill Lynch
Brauer, Irigoyen and their BofA Merrill associates mark a fourth straight year in first place.
The 2016 Latin America Research Team is based on input from more than 900 representatives of some 450 institutions that manage an estimated $337 billion in Latin American equities and approximately $304 billion in Latin American debt.
