Bank of America Merrill Lynch (BofAML) has been named the top corporate access provider in Europe, according to an Institutional Investor study.
The US firm has risen one place to the top spot this year. The list ranks equity research teams according to their reputation in providing clients with access to CEOs and other senior executives of companies they invest in.
Deutsche Bank, which scored the top spot in the previous survey, sinks to second this year, according to Institutional Investor. The German financial services firm is followed by UBS, Morgan Stanley and JPMorgan Cazenove.
Barclays comes sixth, followed by Credit Suisse, Citi, Sanford Bernstein and Goldman Sachs International. Tied in 11th place are Exane BNP Paribas, Keefe Bruyette & Woods and Kempen & Co.
Institutional Investor based the list on surveys of more than 700 investors from 422 institutions that manage a combined $3.6 tn in European equities. Respondents were asked to choose their top four picks and rank them.
Institutional Investor’s European Top Corporate Access Providers ranking, and the whole practice of providing corporate access to clients, may be in for a change as UK regulator the Financial Conduct Authority (FCA) mulls a proposal that would curb asset managers’ ability to charge clients for corporate access. The FCA estimates that asset management generated £1.5 bn ($2.5 bn) in research fees in 2012, including payments for corporate access.
‘Investors value hearing from industry experts and gaining strategic access to them,’ Simon Greenwell, whose European research team won the top spot in the survey, told the magazine. ‘People recognize that using third-party commentators adds value.’
