Thomson Reuters Announces 2009 Extel Survey Results
London – Thomson Reuters today announced the results of the 36th annual Thomson Reuters Extel Survey at a lunchtime ceremony in London's Guildhall. Considered the leading benchmark for excellence in investment banking and asset management, the pan-European survey highlights achievement across the buy side, sell side and corporate communities.
The 2009 Thomson Reuters Extel Survey captured deeper, more analytical data from all the key market practitioners than ever before. Voting was conducted primarily online and ran from 23 March to 16 May 2009. It reflects the contribution of over 1450 buy-side firms, 170 brokerage firms/research houses and 500 of Europe’s largest quoted companies worldwide. All data, votes received and methodology applied were independently checked and verified by Deloitte.
Highlights of the key winners from the 2009 Survey are:
- Leading Pan-European Brokerage Firm for Equity and Equity-Linked Research: UBS (1)
- Leading Pan-European Fund Management Firm: Fidelity International (2)
- Leading Pan-European Individual Equity Analyst: Andrew Wood, Sanford C. Bernstein, Head of Food Manufacturers Team (1)
- Leading Pan-European Sector Team (across all categories): Société Générale – Global Strategy Team (1)
- Leading Pan-European Equity Sector Team: JP Morgan, Banks Team (24)
- Leading Pan-European Hedge Fund: GLG Partners (1)
- Leading Pan-European CFO: Colin Day, Reckitt Benckiser Group plc (3)
The 2009 Thomson Reuters Extel Survey identified a number of industry trends, which include:
- The market turmoil over the last year has resulted in an average 40% decline in commissions paid by fund managers to the brokers
- High quality insights are still greatly prized, with asset managers actually increasing the number of research counterparties, and accessing more independents and research boutiques than ever before.
- Quoted companies are less interested in dealing with hedge funds, and focusing more on traditional sources of investment
"I congratulate the winners of this year's Thomson Reuters Extel Survey. The economic constraints and market volatility has hit all sides of the industry, and delivering performance has never been more challenging. As an information provider, it is our duty at Thomson Reuters to produce an exhaustive and authoritative survey like Extel to pinpoint the skilful teams and individuals across a congested arena," commented Devin Wenig, Chief Executive Officer of the Markets Division of Thomson Reuters. "Congratulations again to all the winners for their remarkable achievements."
Today’s Thomson Reuters Extel award ceremony was hosted by Axel Threlfall, anchor at Reuters, in London's Guildhall and drew nearly 400 members of the European financial community. Awards were presented by Niall FitzGerald, deputy Chairman of Thomson Reuters and City grandee Sir Brian Pitman, former Chairman of Lloyds TSB Group.
The Thomson Reuters Extel Survey bestows over 200 awards covering equity sectors, economics and strategy, equity derivatives, and emerging markets categories. The role of insightful analysts and strategists, especially those who more closely identified upcoming market turbulence, is ever more highly prized. Results for the other key 2009 categories (2008 in brackets where applicable) are:
- Leading Pan-European Brokerage Firm for Equity and Equity-Linked Research: UBS (1)
1. UBS
2. Banc of America Securities - Merrill Lynch
3. Credit Suisse Securities - Leading Pan-European Fund Management Firm: Fidelity International (2)
1. Fidelity International
2. JPMorgan Asset Management
3. Capital Research & Management - Leading Pan-European Individual Equity Analyst: Andrew Wood, Sanford C. Bernstein, Head of Food Manufacturers Team (1)
1. Andrew Wood, Sanford C. Bernstein, Head of Food Manufacturers Team
2. Charlie Mills, Credit Suisse Securities
3. Nico Lambrechts, Banc of America Securities - Merrill Lynch - Leading Pan-European Sector Team (across all categories): Société Générale – Global Strategy Team (1)
1. Société Générale - Global Strategy Team
2. HSBC - Telecommunication Services Team
3. Exane BNP Paribas - Construction & Building Materials Team - Leading Pan-European Equity Sector Team: JP Morgan, Banks Team (24)
1. JP Morgan, Banks Team
2. Banc of America Securities - Merrill Lynch, Capital Goods (inc. Enq & Mach)
3. Banc of America Securities - Merrill Lynch, Beverages - Leading Pan-European Hedge Fund: GLG Partners (1)
1. GLG Partners
2. Landsdowne Partners
3. Citadel Investment Group - Leading Pan-European CFO: Colin Day, Reckitt Benckiser Group plc (3)
1. Colin Day, Reckitt Benckiser Group
2. Jean-Jacques Guiony, LVMH
3. Jacques Stern, Accor SA - Leading Pan-European Brokerage Firm for SRI & Sustainability Research: Société Générale (1)
1. Société Générale
2. UBS
3. Cheuvreux - Leading Pan-European Specialist Sales Person: Gerard Zaffran, Banc of America Securities-Merrill Lynch (1)
1. Gerard Zaffron, of America Securities - Merrill Lynch
2. Paul Jackson, Société Générale
3. Alex Shaer, Banc of America Securities - Merrill Lynch - Leading Pan-European Fund Management Individual: Asif Jeevanjee, JPMorgan Asset Management (2)
1. Asif Jeevanjee, JPMorgan Asset Management
2. Alberto Chiandetti, Fidelity International
3. Peter Lawrence, JPMorgan Asset Management - Leading Pan-European Brokerage Firm for Equity Trading & Execution: Credit Suisse (5)
1. Credit Suisse
2. UBS
3. Deutsche Bank - Leading Pan-European Brokerage Firm for Equity Sales: UBS (1)
1. UBS
2. Banc of America Securities - Merrill Lynch
3. Cheuvreux - Leading Brokerage Firms for Continental European Small & Mid Caps Research: Cheuvreux (1)
1. Cheuvreux
2. Banc of America Securities - Merrill Lynch
3. ING Financial Markets - Leading Brokerage Firm for UK Small Caps: Numis Securities (2)
1. Numis Securities
2. RBS Global Banking & Markets
3. Cazenove - Leading UK Small Caps Analyst: David Toms, Numis Securities (7)
1. David Toms, Numis Securities
2. Simon Davies, RBS Global Banking & Markets
3. Richard Rae, RBS Global Banking & Markets - Leading Pan-European Economist/Strategist: James Montier, Société Générale (2)
1. James Montier, Société Générale
2. Albert Edwards, Société Générale
3. Andrew Garthwaite, Credit Suisse Securities
To view the headline results, please visit www.extelsurveys.com.
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