Here are some of the key facts, figures and noteworthy results of the 2016 All-Brazil Research Team survey, Institutional Investor’s exclusive annual ranking of the nation’s leading sell-side analysts.
Most popular analysts (as measured by number of votes cast):
• Ilan Goldfajn of Itaú BBA, Economics (first place)
• Ciro Matuo of Itaú BBA, Corporate Debt (first place)
• Eduardo Rosman of BTG Pactual, Financials/Banks (first place)
• Leonardo Correa of BTG Pactual, Metals & Mining (first place)
• Eduardo Rosman of BTG Pactual, Financials/Nonbanks (first place)
Most popular sectors (as measured by number of voters*):
• Economics (winner: Ilan Goldfajn, Itaú BBA)
• Financials/Banks (Eduardo Rosman, BTG Pactual)
• Equity Strategy (Guilherme Paiva, Morgan Stanley)
• Corporate Debt (Ciro Matuo, Itaú BBA)
• Retailing (Fábio Monteiro, BTG Pactual)
Most popular sectors (as measured by number of votes*):
• Economics (winner: Ilan Goldfajn, Itaú BBA)
• Financials/Banks (Eduardo Rosman, BTG Pactual)
• Retailing (Fábio Monteiro, BTG Pactual)
• Metals & Mining (Leonardo Correa, BTG Pactual)
• Electric & Other Utilities (Antonio Junqueira, BTG Pactual)
(*Survey participants may name up to four analysts per sector.)
Currently ranked analysts with the longest winning streaks:
• Ciro Matuo of Itaú BBA, Corporate Debt, six years
• Guilherme Paiva of Morgan Stanley, Equity Strategy, six years
Three analysts oversee more than one top-ranked team:
• Thiago Duarte of BTG Pactual
— Agribusiness
— Food & Beverages
• Ilan Goldfajn of Itaú BBA
— Economics
— Sovereign Debt
• Eduardo Rosman of BTG Pactual
— Financials/Banks
— Financials/Nonbanks
Five other analysts top one sector and rank in at least one other:
• Leonardo Correa of BTG Pactual
— Metals & Mining, first place
— Pulp & Paper, third place
• Renata Faber of Itaú BBA
— Capital Goods, first place
— Transportation, runner-up
• Bruno Giardino of Santander
— Education, first place
— Health Care, third place
• Thiago Capucci Macruz of Itaú BBA
— Education, second place
— Health Care, first place
— Retailing, runner-up
• Ciro Matuo of Itaú BBA
— Corporate Debt, first place
— Sovereign Debt, third place
Four analysts finish in first place for the first time:
• Lucas Ferreira of J.P. Morgan, Pulp & Paper
• Ilan Goldfajn of Itaú BBA, Sovereign Debt
• Thiago Capucci Macruz of Itaú BBA, Health Care
• Eduardo Rosman of BTG Pactual, Financials/Banks and Financials/Nonbanks
Number of analysts who appear on the roster: 79
Number of firms they represent: 13
Number of analysts who meet the survey’s eligibility criteria: 392**
Number of firms they represent: 31**
Number of analysts appearing on the team for the first time: 18
**Data regarding analysts and firms not appearing here are available from the Institutional Investor Research Group; for information please contact Esther Weisz at 212-224-3307 or eweisz@iiresearchgroup.com.
The 2016 All-Brazil Research Team is based on responses from 714 buy-side analysts and portfolio managers at 375 institutions that oversee an estimated $252 billion in Brazilian equities and $136 billion in Brazilian debt.
