Day: 12 September 2023

BofA Securities and BNP Paribas Exane share first place as top research provider in the Developed Europe survey

BofA Securities, HSBC and J.P. Morgan share top spot in Emerging EMEA

LONDON, Sept. 12, 2023 (GLOBE NEWSWIRE) —  Institutional Investor Research (II Research) surveys are the leading provider of market sentiment in the financial industry. Research budgets remain flat and asset managers are using fewer analysts, but demand for bespoke opinion means that close client relationships and “trusted source” status becomes more important than ever before. With MiFID regulations potentially being rolled back across Europe and UK, the focus on the provision of quality research advisory services may result in a more competitive environment and we may see an increase in research teams across the industry.

There were no changes to the industry and country sector categories this year. The 2023 Developed Europe Research results reflects the opinions of 5,462 portfolio managers and analysts (up from 4,692 in 2022) from 1,813 institutions (up from 1,696 in 2022). The total number of votes has also increased from last year, by 11%. Over 180 firms have submitted centralised or coordinated votes, underscoring the robust nature of the results as an accurate reflection of market sentiment.

Results Highlights

Developed Europe Research

The Leaders’ Board remains intensely competitive, with seven companies competing for the honour of being rated best research house. BofA Securities and BNP Paribas Exane were ranked in first place, both with 38 published positions. J.P. Morgan once again follows in third place taking 31 positions with UBS achieving fourth place with 30 ranked teams. Barclays built on the momentum they gathered in 2022, gaining three published positions and rising to 5^th overall; Morgan Stanley places sixth. The largest gain on the Leader’s Board came from Jefferies in seventh, which gained 10 positions from 2022. Citi, Bernstein and Kepler Cheuvreux take the final three places in the Developed Europe Top 10, displacing Credit Suisse that shared joint 11^th place with Societe Generale.

BNP Paribas Exane once again claims first place in the analyst-ranked tables with 44 positions, followed by BofA Securities (41), J.P. Morgan (35 positions) and Barclays (31), which climbed two places.

Emerging EMEA Research

HSBC and J.P. Morgan were joined by BofA Securities as joint first place in the Emerging EMEA Leaders’ Table all with 17 published positions. Morgan Stanley took fourth place with 8 positions. Citi and UBS shared fifth.

In the commission-weighted analyst tables, the top three positions were unchanged; HSBC came first with 33 published positions, followed by J.P. Morgan with 22 positions and BofA Securities with 18. Morgan Stanley pushed up seven places to 15 to take fourth and UBS came fifth place with 13 positions to complete the leading winners. Vote participation up 14% this year with 934 voters from 286 companies.

David Enticknap, Head of II Research said “With MiFID regulations potentially being rolled back across Europe and UK, the focus on the provision of quality research advisory services may result in a more competitive environment, and we may see an increase in research teams across the industry. The Institutional Investor rankings represent the gold standard in assessment of quality in equity research, recognised globally for the integrity of the process and depth of coverage.”

The results can be found here: https://www.institutionalinvestor.com/research

For more information, or a demo on how to interrogate the data, contact Augusta McKie, Sales Director Research (EMEA), augusta.mckie@iiresearch.com

To share your position on your website content, advertisements, communications and marketing collateral, please contact marketing@iiresearch.com.

Media contact

David Bowen, Director of Marketing, Institutional Investor Research david.bowen@iiresearch.com

About Institutional Investor Research

For over 50 years, Institutional Investor has been conducting independent research surveys with global investment professionals who evaluate and determine the best performing sell side service providers, asset managers and CEOs, CFOs, IROs and IR Programs across Europe, Emerging EMEA, Asia Pacific, North America and Latin America. The research data independently captures evaluations of companies, investment professionals and executives from investment managers, banks, research providers and corporate issuers, to deliver detailed peer-to-peer comparative analyses every year; the feedback helps inform strategic decision making and improve resource and process management.

Follow Institutional Investor Research here https://www.linkedin.com/showcase/11222447

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36 companies (Core, Large Cap & Small-Mid Cap) came first in at least five voting areas in their sectors in Developed Europe and 16 companies for Emerging EMEA

LONDON, Sept. 12, 2023 (GLOBE NEWSWIRE) — Institutional Investor Research (II Research) surveys are the leading provider of independent performance validation and market sentiment across 8 global capital markets. Executive Team surveys are an independent platform for investment and sell-side professionals to evaluate credibility, communication, financial stewardship and capital allocation of corporate leadership, the quality of IR across multiple activities and the effectiveness of the Board of Directors. The results from the survey, an in-depth capability and benchmark analysis, capture the feeling and trust levels of stakeholders in their equity assets.

This year saw 2,733 CEOs, CFOs, and IROs from 1,266 nominated companies receiving votes in the survey. Combined voters saw 1,872 voters from 851 voting companies. The number of votes increased by over 20% since 2022 for the Developed Europe survey and 46% for the Emerging EMEA survey.

2023 Emerging EMEA Executive Team — Core results

281 companies and 503 individuals were nominated across 11 sectors.

Eight companies clinched a clean sweep first place in the combined rankings in five voting areas for Best CEO, Best CFO, Best Investor Relations Professional, Best IR Company, Best Analyst/Investor Event, Best ESG Metrics, and Best Company Board in their respective sectors:

Al Rajhi Bank (Saudi Arabia, Financials), Coca-Cola Icecek (Turkey, Consumer), Haci Omer Sabanci Holding (Turkey, Industrials), Hellenic Telecommunications Organization (Greece, Technology, Media & Telecommunications), Lamda Development (Greece, Construction & Real Estate), MLP Saglik Hizmetleri (Turkey, Health Care & Pharmaceuticals), Mytilineos Holdings (Greece, Metals & Mining) and Petkim Petrokimya Holding (Turkey, Chemicals).

2023 Emerging EMEA Executive Team — Large Cap results

95 companies and 197 individuals were nominated across 11 sectors.

Six companies clinched a clean sweep first place in the combined rankings five of the seven aforementioned voting areas:

Al Rajhi Bank (Saudi Arabia, Financials), Emaar Properties (United Arab Emirates, Construction & Real Estate), Hellenic Telecommunications Organization (Greece, Technology, Media & Telecommunications), Koc Holding (Turkey, Industrials), Opap (Greece, Consumer) and Turk Hava Yollari (Turkey, Transportation).

2023 Emerging EMEA Executive Team — Small & Midcap results

186 companies and 306 individuals were nominated across 11 sectors.

Ten companies obtained a clean sweep first place in the combined rankings in five of the seven aforementioned voting areas:

Aegean Airlines (Greece, Transportation), Coca-Cola Icecek (Turkey, Consumer), Haci Omer Sabanci Holding (Turkey, Industrials), Lamda Development (Greece, Construction & Real Estate), MLP Saglik Hizmetleri (Turkey, Health Care & Pharmaceuticals), Motor Oil (Hellas) Corinth Refineries (Greece, Oil & Gas), Mytilineos Holdings (Greece, Metals & Mining), Petkim Petrokimya Holding (Turkey, Chemicals), Piraeus Financial Holdings (Greece, Financials) and Turk Telekomunikasyon (Turkey, Technology Media & Telecommunications).

Amani Korayeim, Director for Europe and Emerging EMEA, says “The Institutional Investor rankings are recognised as an industry benchmark by its stakeholders and determine compensation packages and KPIs for IR teams that are empowered and valued by their leadership teams. Investor Relations is critical in shareholder value creation. In fact, good IR, often recognised through the Institutional Investor’s rankings, can deliver a competitive advantage, and help companies trade at a premium. Conversely, poor IR can lead to the company being traded at a discount, create greater volatility and higher cost of capital. The highest ranked companies in our surveys tend to measure and monitor the effectiveness of their IR activities very closely. These are the teams that take a strategic and deliberate approach to their market engagement, use underlying research data and perception intelligence to continually optimise their IR interaction to close the gap between their competition and lock in prospect targets through a more personalised and targeted outreach. Congratulations to all the top ranked companies this year, we are particularly excited about the new names and regions that are represented in what the market defines as Best in Class IR.”

For the full list of published winners, please visit www.institutionalinvestor.com/research.

Awards & Licences

Institutional Investor owns the copyright to all survey and awards logos. To acquire access to the Institutional Investor award or survey logo for use in client pitch books, annual reports, websites, email signatures, local advertising, social media etc., please contact marketing@iiresearch.com

Ranking Analysis & Perception Intelligence

To request further information on how you can access the underlying survey research to identify strength and opportunities in IR through a multi-dimensional comparative peer analysis, please contact amani.korayeim@iiresearch.com

Media contact

David Bowen, Director of Marketing, Institutional Investor Research david.bowen@iiresearch.com

About Institutional Investor Research

For over 50 years, Institutional Investor has been conducting independent research surveys with global investment professionals who evaluate and determine the best performing sell side service providers, asset managers and CEOs, CFOs, IROs and IR Programs across Europe, Emerging EMEA, Asia Pacific, North America and Latin America. The research data independently captures evaluations of companies, investment professionals and executives from investment managers, banks, research providers and corporate issuers, to deliver detailed peer-to-peer comparative analyses every year; the feedback helps inform strategic decision making and improve resource and process management.

Follow Institutional Investor Research here https://www.linkedin.com/showcase/11222447

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