OVERALL COMBINED REGIONAL RESEARCH & SALES (ASIA EX AUSTRALIA & JAPAN)
Rank
2013
1
2
3
4
5
6
7
8
9
10
3
2
1
4
5
6
8
10
–
7
Bank
%
UBS
HSBC
CLSA
Bank of America Merrill Lynch
Credit Suisse
Morgan Stanley
Goldman Sachs
JP Morgan
Deutsche Bank
Citi
OVERALL COMBINED RESEARCH & SALES
FOR AUSTRALIA
Rank 2013 Bank
1
1 UBS
2
2 CLSA
3
3 Macquarie
4
5 Bank of America Merrill Lynch
5
6 Credit Suisse
6
4 JP Morgan
7
8 Deutsche Bank
8
9 Citi
9
– CIMB
10 7 Morgan Stanley
OVERALL REGIONAL RESEARCH
(ASIA EX AUSTRALIA & JAPAN)
Rank 2013 Bank
1
3 UBS
2
1 CLSA
3
2 HSBC
4
5 Credit Suisse
5
4 Bank of America Merrill Lynch
6
– Barclays
7
– Deutsche Bank
8
10 Morgan Stanley
9
6 Goldman Sachs
10 8 JP Morgan
%
21.26
20.42
11.40
8.45
7.28
6.67
5.12
4.91
4.37
3.46
OVERALL COMBINED RESEARCH & SALES
FOR JAPAN
Rank 2013 Bank
1
2 Nomura
2
1 CLSA
3
– SMBC Nikko
4
8 Mizuho
5
3 Daiwa
6
4 UBS
7
6 Bank of America Merrill Lynch
8
5 JP Morgan
9
– Societe Generale
10 – Mitsubishi UFJ
%
16.75
14.72
14.36
5.47
5.31
4.07
4.01
3.79
3.50
3.49
OVERALL REGIONAL SALES
(ASIA EX AUSTRALIA & JAPAN)
Rank 2013 Bank
%
1
2 HSBC
14.29
2
3 UBS
14.00
3
1 CLSA
13.16
4
4 Bank of America Merrill Lynch
6.64
5
5 Morgan Stanley
5.48
6
7 Credit Suisse
5.07
7
8 Goldman Sachs
4.29
8
– JP Morgan
4.08
9
9 Macquarie
3.98
10 6 Citi
3.71
OVERALL REGIONAL RESEARCH AS VOTED BY MOST
ACTIVE TRADERS (ASIA EX AUSTRALIA & JAPAN)
Rank 2013
1
2
2
4
3
1
4
10
5
–
6
5
7
8
8
–
9
–
10 7
Bank
UBS
HSBC
CLSA
Barclays
Deutsche Bank
Credit Suisse
JP Morgan
Standard Chartered
DBS Vickers
14.99
14.32
13.73
6.16
5.22
4.88
4.00
3.86
3.66
3.54
%
18.91
18.67
18.10
5.81
5.29
4.87
3.19
3.15
3.14
3.10
%
16.57
15.34
9.87
7.65
7.15
6.56
5.81
4.89
3.67
3.49
OVERALL REGIONAL SALES AS VOTED BY MOST ACTIVE
TRADERS (ASIA EX AUSTRALIA & JAPAN)
Rank 2013
1
2
2
3
3
1
4
8
5
4
6
6
7
9
8
7
9
–
10 10
Bank
UBS
HSBC
CLSA
Morgan Stanley
Bank of America Merrill Lynch
Credit Suisse
Goldman Sachs
Macquarie
JP Morgan
Deutsche Bank
%
13.72
13.36
12.90
6.21
6.18
5.37
4.47
4.19
4.10
4.06
HEDGE FUND SERVICES
PRIME BROKING
BEST FOR OVERALL SERVICES TO HEDGE FUNDS
Rank 2013 Bank
%
1
1 UBS
12.87
2
5 CICC
9.66
3
6 Bank of America Merrill Lynch
7.38
4
2 CLSA
7.15
5
4 Morgan Stanley
6.82
6
7 Goldman Sachs
6.78
7
3 HSBC
5.60
8
10 Credit Suisse
5.49
9
8 Citi
4.64
10 – JP Morgan
4.39
BEST FOR OVERALL SERVICES IN PRIME BROKING
Rank 2013 Bank
%
1
1 UBS
16.59
2
2 CICC
12.14
3
5 Goldman Sachs
6.25
4
4 Morgan Stanley
6.08
5
7 Bank of America Merrill Lynch
5.94
6
– Yuanta
5.46
7
10 CLSA
4.58
8
6 Credit Suisse
4.42
9
9 Citi
4.31
10 3 HSBC
3.88
BEST FOR CLIENT SERVICE COVERAGE
Rank 2013 Bank
1
1 UBS
2
– CICC
3
4 Morgan Stanley
4
– Bank of America Merrill Lynch
5
3 HSBC
%
13.24
9.74
8.13
7.11
6.94
BEST PRODUCT INNOVATION FOR PRIME BROKING
Rank 2013 Bank
%
1
1 UBS
18.33
2
2 CICC
11.14
3
4 Morgan Stanley
8.31
4
– Bank of America Merrill Lynch
8.22
5
3 Goldman Sachs
7.61
BEST BESPOKE RESEARCH
Rank 2013 Bank
1
2 UBS
2
3 CICC
3
1 CLSA
4
– Bank of America Merrill Lynch
5
5 Morgan Stanley
%
12.65
11.32
9.03
6.96
6.63
BEST PRICING FOR PRIME BROKING
Rank 2013 Bank
1
1 UBS
2
2 CICC
3
5 Goldman Sachs
4
– Bank of America Merrill Lynch
5
3 Morgan Stanley
%
17.46
10.96
6.42
6.32
5.78
%
15.68
13.76
5.68
5.64
5.63
Rank 2013
1
2
2
4
3
–
4
5
5
–
Bank
UBS
CICC
Bank of America Merrill Lynch
CLSA
Citi
%
13.06
8.79
7.65
7.05
7.02
BEST RISK MANAGEMENT ADVISORY
Rank 2013 Bank
1
1 UBS
2
2 CICC
3
5 Goldman Sachs
4
– Yuanta
5
– Bank of America Merrill Lynch
Rank 2013
1
1
2
–
3
5
4
–
5
3
Bank
UBS
CICC
Goldman Sachs
Bank of America Merrill Lynch
Morgan Stanley
%
13.62
10.86
8.69
7.93
6.35
BEST CLIENT SERVICE FOR PRIME BROKING
Rank 2013 Bank
%
1
1 UBS
17.70
2
2 CICC
11.63
3
4 Morgan Stanley
6.22
4
– Goldman Sachs
5.80
5
– Yuanta
5.67
BEST SALESPERSON SERVICING HEDGE FUNDS
Rank Name
Firm
%
1
Tommy Tang
CLSA
4.67
2
Kim Allan
Daiwa Capital
2.04
3
Chenfan Zhao
Credit Suisse
1.58
4
Terrence Quah
UBS
1.55
5
Qi Wu
UBS
1.43
BEST FOR CLIENT SERVICE COVERAGE
Rank Name
Firm
%
1
Jimmy Woo
Barclays
2.90
2
Michael Douglas Lee Societe Generale 2.89
3
Phillip Cheung
Societe Generale 2.84
4
Eddie Jones
BAML
2.66
5
Myron Kwong
UBS
2.41
INDIVIDUAL
TEAM
BEST STRATEGIST
Rank Name
1
Christopher Wood
2
Li Chen
3
Russell Napier
Firm
CLSA
UBS
CLSA
%
14.90
5.83
4.45
BEST ECONOMIST
Rank Name
1
Tao Wang
2
Eric Fishwick
3
Frederic Neumann
Firm
UBS
CLSA
HSBC
%
9.11
7.76
4.74
BEST TEAM FOR STRATEGY
Rank Firm
1
CLSA
2
UBS
3
HSBC
%
25.25
19.29
16.76
BEST TEAM FOR ECONOMIC RESEARCH
Rank Firm
1
UBS
2
CLSA
3
HSBC
%
23.68
20.60
17.83
BEST QUANTITATIVE/TECHNICAL ANALYST
Rank Name
Firm
1
Laurence Balanco CLSA
2
James Jong-Pil Lee HSBC
3
Desh Peramunetilleke CLSA
%
17.26
8.36
8.24
BEST TEAM FOR QUANTITATIVE/TECHNICAL ANALYSIS
Rank Firm
%
1
CLSA
28.96
2
HSBC
16.98
3
Macquarie
7.50
BEST ANALYST FOR BANKS
Rank Name
1
Zongwei Gan
2
May Yan
3
Tracy Yu
%
6.07
4.85
4.41
BEST TEAM FOR BANKS
Rank Firm
1
UBS
2
HSBC
3
CLSA
%
22.91
14.97
9.71
%
5.10
4.11
3.49
BEST TEAM FOR INDUSTRIALS
Rank Firm
1
UBS
2
HSBC
3
CLSA
%
21.48
20.10
15.14
Firm
UBS
Barclays
Deutsche Bank
BEST ANALYST FOR INDUSTRIALS
Rank Name
Firm
1
Anderson Chow
HSBC
2
Alexious Lee
CLSA
3
Yankun Hou
UBS
BEST ANALYST FOR CONSUMER DISCRETIONARY
Rank Name
Firm
%
1
Xiaopo Wei
CLSA
13.30
2
Charlene Liu
HSBC
4.17
3
Mark Li
DBS Vickers
4.15
BEST TEAM FOR CONSUMER DISCRETIONARY
Rank Firm
%
1
CLSA
24.59
2
UBS
23.97
3
HSBC
12.49
BEST ANALYST FOR CONSUMER STAPLES
Rank Name
Firm
1
Xiaopo Wei
CLSA
2
Lin (Linda) Zhao
UBS
3
Jessie Guo
BEST TEAM FOR CONSUMER STAPLES
Rank Firm
1
CLSA
2
UBS
3
HSBC
%
27.12
18.58
9.85
BEST ANALYST FOR DIVERSIFIED FINANCIALS
Rank Name
Firm
%
1
York Pun
HSBC
13.73
2
Derek Ovington
CLSA
4.76
3
Todd Dunivant
HSBC
4.34
BEST TEAM FOR DIVERSIFIED FINANCIALS
Rank Firm
1
HSBC
2
UBS
3
CLSA
%
27.02
19.24
14.51
BEST ANALYST FOR ENERGY
Rank Name
Firm
1
Thomas Hilboldt
HSBC
2
Laban Yu
3
Jason Saw
RHB-OSK-DMG
BEST TEAM FOR ENERGY
Rank Firm
1
UBS
2
HSBC
3
CLSA
%
20.90
9.05
9.04
BEST ANALYST FOR HEALTHCARE
Rank Name
Firm
%
1
Xuwo Ji
UBS
11.22
2
Jack Hu
Deutsche Bank 7.14
3
Iris Wang
Credit Suisse
6.08
BEST TEAM FOR HEALTHCARE
Rank Firm
1
UBS
2
HSBC
3
Deutsche Bank
%
25.50
11.40
10.43
BEST ANALYST FOR INSURANCE
Rank Name
Firm
1
James Garner
HSBC
2
Bo Lun Tang
HSBC
3
Jianwei Yang
HSBC
%
22.13
7.41
6.54
BEST TEAM FOR INSURANCE
Rank Firm
1
HSBC
2
UBS
3
CLSA
%
42.46
14.19
10.07
BEST ANALYST FOR MATERIALS
Rank Name
Firm
1
HSBC
2
Haoxiang Lin
UBS
3
Trina Chen
Credit Suisse
%
12.85
4.37
4.15
BEST TEAM FOR MATERIALS
Rank Firm
1
HSBC
2
UBS
3
CLSA
%
21.73
19.60
13.83
%
16.13
4.89
4.68
%
4.48
4.25
3.21
BEST ANALYST FOR REAL ESTATE
Rank Name
Firm
1
Nicole Wong
CLSA
2
Carol Wu
DBS Vickers
3
Pratik Ray
HSBC
BEST ANALYST FOR SEMICONDUCTORS
& SEMICONDUCTOR EQUIPMENT
Rank Name
Firm
1
Andrew Lu
Barclays
2
Ricky Seo
HSBC
3
Steven Pelayo HSBC
%
6.36
6.07
4.71
BEST TEAM FOR REAL ESTATE
Rank Firm
1
HSBC
2
UBS
3
DBS Vickers
%
16.40
14.58
12.85
%
9.85
5.16
4.83
BEST TEAM FOR SEMICONDUCTORS
& SEMICONDUCTOR EQUIPMENT
Rank Firm
1
HSBC
2
Barclays
3
UBS
%
18.38
15.99
15.73
BEST ANALYST FOR SOFTWARE & INTERNET SERVICES
Rank Name
Firm
%
1
Zhong Zhou
UBS
8.57
2
Wendy Huang Standard Chartered 8.05
3
Alicia Yap
Barclays
6.48
BEST TEAM FOR SOFTWARE & INTERNET SERVICES
Rank Firm
%
1
UBS
17.54
2
CLSA
13.64
3
Barclays
12.13
BEST ANALYST FOR TECHNOLOGY
HARDWARE & EQUIPMENT
Rank Name
Firm
1
Kirk Yang
Barclays
2
Xiaoda Zhang
UBS
3
Jenny Lai
HSBC
BEST TEAM FOR TECHNOLOGY
HARDWARE & EQUIPMENT
Rank Firm
1
UBS
2
CLSA
3
HSBC
%
6.47
6.21
4.99
%
20.86
18.17
15.29
BEST ANALYST FOR TELECOMMUNICATION SERVICES
Rank Name
Firm
%
1
Colin McCallum
Credit Suisse
8.29
2
Elinor Leung
CLSA
7.70
3
Neale Anderson
HSBC
5.60
BEST TEAM FOR TELECOMMUNICATION SERVICES
Rank Firm
%
1
CLSA
16.72
2
HSBC
14.98
3
UBS
12.15
BEST ANALYST FOR TRANSPORTATION
Rank Name
Firm
1
Eric Lin
UBS
2
Xin Chen
UBS
3
Paul Wan
CLSA
BEST TEAM FOR TRANSPORTATION
Rank Firm
1
UBS
2
CLSA
3
HSBC
%
28.16
11.39
10.85
BEST TEAM FOR UTILITIES
Rank Firm
1
UBS
2
HSBC
3
CLSA
%
28.32
14.61
12.51
BEST TEAM FOR REGIONAL SALES
Rank Firm
1
UBS
2
HSBC
3
CLSA
%
19.00
17.57
16.81
%
7.90
7.55
6.68
BEST ANALYST FOR UTILITIES
Rank Name
Firm
1
Yingzhen Xu
UBS
2
Pierre Lau
Citi
UBS
3
%
10.01
8.20
7.77
BEST REGIONAL SALESPERSON
Rank Name
Firm
1
Vincent Lai
UBS
2
Hun Oh
HSBC
3
Tommy Tang
CLSA
%
2.34
2.04
1.71
BEST REGIONAL SALES TRADER
Rank Name
Firm
%
1
Phillip Cheung
Societe Generale 4.64
2
John Chapman
HSBC
2.52
3
David Choi
BAML
2.34
BEST TEAM FOR REGIONAL SALES TRADING
Rank Firm
%
1
UBS
17.06
2
HSBC
15.43
3
CLSA
13.07
BROKERAGES
MOST IMPROVED BROKERAGE
Rank Firm
1
UBS
2
HSBC
3
BEST OVERALL SALES SERVICES
Rank Firm
1
HSBC
2
UBS
3
CLSA
%
15.14
13.87
7.43
%
13.71
12.63
11.86
BEST REGIONAL BROKERAGE FOR EXECUTION
Rank Firm
%
1
UBS
14.60
2
CLSA
11.07
3
HSBC
8.99
MOST INDEPENDENT RESEARCH
Rank Firm
1
CLSA
2
UBS
3
Sanford Bernstein
%
24.30
9.97
6.56
LEAST INDEPENDENT RESEARCH
Rank Firm
1
Goldman Sachs
2
Morgan Stanley
3
CLSA
%
38.62
6.63
6.17
AUSTRALIA
Best local brokerage
Rank Bank%
1Macquarie
68.89
2
Bell Potter
12.22
3CommSec
7.45
best execution
RankFirm
1UBS
2CLSA
3Macquarie
%
25.10
14.33
10.95
Best for overall country research
Rank Bank%
1
UBS
23.38
2CLSA
20.17
3Macquarie
15.93
best in sales trading
RankFirm
1UBS
2CLSA
3 Goldman Sachs
%
42.93
28.37
17.05
Best research coverage
SectorAnalyst
Strategy
David Cassidy
Macroeconomics
Scott Haslem
Small Caps
John Kim
Banks
Brian Johnson
Consumer Discretionary
David Thomas
Consumer Staples
David Thomas
Diversified Financials
Jan Van Der Schalk
Energy
John Hirjee
Healthcare
David Stanton
Industrials
Scott Hudson
Insurance
Jan Van Der Schalk
Materials
Glyn Lawcock
Real Estate
John Kim
Semiconductors &
Semiconductor Equipment n/a
Software & Internet Services Han Xu
Technology Hardware &
Equipmentn/a
Telecommunications
Ian Martin Transportation
Scott Ryall
Utilities
David Leitch
most improved brokerage
over the last 12 months
RankFirm
1CLSA
2UBS
3 Deutsche Bank
%
27.94
20.15
11.60
best for events and/or conferences
RankFirm
1Macquarie
2UBS
3CLSA
%
21.06
17.10
17.07
Firm
UBS
UBS
CLSA
CLSA
CLSA
CLSA
CLSA
Deutsche Bank
CLSA
CLSA
CLSA
UBS
CLSA
UBS
CIMB
CLSA
UBS
Best overall sales services
Rank Bank%
1CLSA
20.61
2
UBS
19.65
3
Credit Suisse
9.94
Best salesperson
Rank Name
1
Maureen Baker
2
Bryan Howitt
3
Tim Leahy
Firm%
CLSA
21.39
CLSA
10.45
UBS
9.38
Best sales trader
Rank Name
1
Paul Rutkowski
2
Steven Parsons
3
Jason Giese
Firm%
CLSA
11.27
UBS
10.15
CLSA
8.27
best for roadshows and company visits
RankFirm
%
1UBS
19.46
2CLSA
12.79
3Macquarie
12.04
most independent research brokerage
RankFirm
1CLSA
2Macquarie
3 Bell Potter
%
51.76
14.56
10.01
CHINA
Best local brokerage
Rank Bank%
1CICC
35.22
2CITICS
33.85
3
SWS Securities
6.81
best execution
RankFirm
1CICC
2UBS
3CITICS
%
22.30
16.72
13.14
Best for overall country research
Rank Bank%
1CICC
22.50
2
UBS
13.85
3CITICS
13.56
best in sales trading
RankFirm
1UBS
2CITICS
3CICC
%
21.74
20.55
16.84
Best research coverage
SectorAnalyst
Strategy
Li Chen
Macroeconomics
Wensheng Peng
Small Caps
Min Li
Banks
Junhua Mao
Consumer Discretionary
Haiyan Guo
Consumer Staples
Haiyan Guo
Diversified Financials
Hongwen Pan
Energy
Bin Guan
Healthcare
Jing Qiang
Industrials
Huimin Wu
Insurance
Shengbo Tang
Materials
Nisa (Yujiao) Jiang
Real Estate
Jingbian Ning
Semiconductors &
Semiconductor Equipment Qinyi Erica Chen
Software & Internet Services Haofei Chen
Technology Hardware &
Equipment
Leping Huang
Telecommunications
Haofei Chen Transportation
Xin Yang
Utilities
Junhua Chen
most improved brokerage
over the last 12 months
RankFirm
1CICC
2UBS
3 SWS Securities
%
20.35
15.15
6.89
best for events and/or conferences
RankFirm
1CICC
2UBS
3CITICS
%
22.41
12.91
12.26
Firm
UBS
CICC
CICC
CICC
CICC
CICC
UBS
CICC
CICC
CICC
CICC
CITICS
CICC
CICC
CICC
Nomura
CICC
CICC
CICC
Best overall sales services
Rank Bank%
1CICC
22.76
2CITICS
13.99
3
UBS
13.22
Best salesperson
Rank Name
1
Tommy Tang
2
Qi Wu
3
Vincent Lai
Firm%
CLSA
11.10
UBS
6.14
UBS
3.95
Best sales trader
Rank Name
1
Tina (Tianyi) Xu
2
Vicky (Wei) Qi
3
Lucy Zhang
Firm%
CITICS
7.91
CITICS
6.56
UBS
4.48
best for roadshows and company visits
RankFirm
%
1CICC
21.41
2UBS
11.95
3CITICS
11.55
most independent research brokerage
RankFirm
1CICC
2UBS
3CLSA
%
23.55
14.68
12.61
hong kong
Best local brokerage
Rank Bank%
1HSBC
26.81
2BOCI
15.25
3
SWS HK
8.83
best execution
RankFirm
1CLSA
2CICC
3 Bank of America Merrill Lynch
Best for overall country research (local)
Rank Bank%
1HSBC
13.25
2CLSA
10.81
3
Bank of America Merrill Lynch
8.52
best in sales trading
RankFirm
1UBS
2HSBC
3CLSA
%
12.72
12.00
8.59
Best research coverage (local)
SectorAnalyst
Strategy
Francis Cheung
Macroeconomics
Tao Wang
Small Caps
Edwin Chen
Banks
Tracy Yu
Consumer Discretionary
Xiaopo Wei
Consumer Staples
Xiaopo Wei
Diversified Financials
Leo Fan
Energy
Albert Miao
Healthcare
Shaojing Tong
Industrials
Titus Wu
Insurance
Bob Leung
Materials
Rong Ye
Real Estate
Carol Wu
Semiconductors &
Semiconductor Equipment Ashley Sheng
Software & Internet Services Haofei Chen
Technology Hardware &
Equipment
Ashley Sheng
Telecommunications
Jinjin Wang Transportation
Leo Fan
Utilities
Pierre Lau
most improved brokerage
over the last 12 months
RankFirm
1CICC
2HSBC
3CLSA
%
11.37
6.36
5.83
best for events and/or conferences
RankFirm
1CLSA
2 Bank of America Merrill Lynch
3CICC
%
16.76
9.72
6.69
Firm
CLSA
UBS
UBS
Deutsche Bank
CLSA
CLSA
SWS Securities
SWS Securities
UBS
SWS Securities
UBS
SWS Securities
DBS Vickers
SWS Securities
CICC
SWS Securities
UBS
SWS Securities
Citi
Best for overall country research (h-share)
Rank Bank%
1CICC
12.35
2HSBC
12.30
3CLSA
9.15
Best research coverage (h-share)
SectorAnalyst
Strategy
Francis Cheung
Macroeconomics
Wensheng Peng
Small Caps
Edwin Chen
Banks
Junhao Mao
Consumer Discretionary
Xiaopo Wei
Consumer Staples
Xiaopo Wei
Diversified Financials
Lijuan Du
Energy
Albert Miao
Healthcare
Shaojing Tong
Industrials
Huimin Wu
Insurance
Shengbo Tang
Materials
Rong Ye
Real Estate
Carol Wu
Semiconductors &
Semiconductor Equipment Ashley Sheng
Software & Internet Services Haofei Chen
Technology Hardware &
Equipment
Jinjin Wang
Telecommunications
Jinjin Wang Transportation
Xin Yang
Utilities
Rong Ye
Firm
CLSA
CICC
UBS
CICC
CLSA
CLSA
CICC
SWS Securities
UBS
CICC
CICC
SWS Securities
DBS Vickers
SWS Securities
CICC
UBS
UBS
CICC
SWS Securities
best for roadshows and company visits
RankFirm
1
Bank of America Merrill Lynch
2CICC
3CLSA
%
9.02
8.53
7.64
%
9.43
7.73
7.65
most independent research brokerage
RankFirm
1CLSA
2CICC
3 SWS Securities
%
20.79
11.85
10.29
best overall sales services
RankFirm
1HSBC
2CLSA
3 Bank of America Merrill Lynch
%
12.23
9.94
7.68
Best salesperson
Rank NameFirm %
1
Tommy Tang
CLSA
5.93
2 Joyce Li
HSBC
2.50
3 Suping Olinda Yan Haitong
2.29
Best sales trader
Rank NameFirm %
1
Vivian Lau
DBS Vickers
3.23
=2 Eric Cheng
CLSA
2.76
=2 Lawrence Lau
BOCI
2.76
india
Best local brokerage
Rank Bank%
1Kotak
22.66
2Edelweiss
13.11
3
Ambit Capital
12.70
best execution
RankFirm
1CLSA
2Kotak
3IIFL
%
14.34
6.10
4.94
Best for overall country research
Rank Bank%
1CLSA
14.62
2Kotak
12.04
3HSBC
9.98
best in sales trading
RankFirm
1CLSA
2HSBC
3 Axis Capital
%
18.50
12.25
7.68
Best research coverage
SectorAnalyst
Strategy
Saurabh Mukherjea
Macroeconomics
Rajeev Malik
Small Caps
Gautam Chhaochharia
Banks
Aashish Agarwal
Consumer Discretionary Govindarajan Chellappa
Consumer Staples
Manoj Menon
Diversified Financials
M.B. Mahesh
Energy
Vikash Jain
Healthcare
Hemant Bakhru
Industrials
Lokesh Garg
Insurance
Tabassum Inamdar
Materials
Jigar Mistry
Real Estate
Saurabh Kumar
Semiconductors &
Semiconductor
Equipment
Manish Nigam
Software & Internet
Services
Kawaljeet Saluja
Technology Hardware &
Equipment
Ashish Chopra
Telecommunications
Rohit Chordia Transportation
Abhijeet Naik
Utilities
Pankaj Sharma
most improved brokerage
over the last 12 months
RankFirm
1
Ambit Capital
2Emkay
3CIMB
%
18.72
6.82
6.71
best for events and/or conferences
RankFirm
1CLSA
2 Motilal Oswal
3 Morgan Stanley
%
15.32
13.87
8.36
Firm
Ambit Capital
CLSA
UBS
CLSA
Jefferies
Deutsche Bank
Kotak
CLSA
CLSA
Kotak
Goldman Sachs
HSBC
JP Morgan
Credit Suisse
Kotak
Motilal Oswal
Kotak
CLSA
UBS
Best overall sales services
Rank Bank%
1HSBC
10.11
2CLSA
10.07
3
Ambit Capital
7.07
Best salesperson
Rank Name
1
Melrick D'Souza
2
Monil Bhala
3
Siddarth Dikshit
Firm%
CLSA
3.97
UBS
3.40
CLSA
2.97
Best sales trader
Rank Name
1
Mihir Doshi
2
John Chapman
3
Viraf Mehta
Firm%
CLSA
4.93
HSBC
4.86
CLSA
4.38
best for roadshows and company visits
RankFirm
1CLSA
2Edelweiss
3 Axis Capital
most independent research brokerage
RankFirm
1CLSA
2Kotak
3 Ambit Capital
%
8.62
8.15
6.35
%
22.67
20.85
18.86
indonesia
Best local brokerage
Rank Bank%
1
Mandiri Sekuritas
53.77
2Bahana
19.15
3Danareksa
18.22
best execution
RankFirm
1CLSA
2 Deutsche Bank
3CIMB
%
20.95
15.54
9.27
Best for overall country research
Rank Bank%
1CLSA
22.49
2
Deutsche Bank
15.52
3
UBS
9.26
best in sales trading
RankFirm
1CLSA
2CIMB
3 Deutsche Bank
%
28.71
16.15
12.18
Best research coverage
SectorAnalyst
Strategy
Heriyanto Irawan
Macroeconomics
Edward Teather
Small Caps
Sarina Lesmina
Banks
Raymond Kosasih
Consumer Discretionary
Merlissa Trisno
Consumer Staples
Merlissa Trisno
Diversified Financials
Jayden Vantarakis
Energy
Abdullah Hashim
Healthcare
Merlissa Trisno
Industrials
Sarina Lesmina
Insurance
Jayden Vantarakis
Materials
Sarina Lesmina
Real Estate
Albert Saputro
Semiconductors &
Semiconductor Equipment n/a
Software & Internet Services n/a
Technology Hardware &
Equipmentn/a
Telecommunications
Raymond Kosasih Transportation
Sarina Lesmina
Utilities
Jayden Vantarakis
most improved brokerage
over the last 12 months
RankFirm
1
Mandiri Sekuritas
2CLSA
3 Morgan Stanley
%
17.15
14.27
9.83
best for events and/or conferences
RankFirm
1CLSA
2 Deutsche Bank
3CIMB
%
18.85
18.00
13.31
Firm
Deutsche Bank
UBS
CLSA
Deutsche Bank
CLSA
CLSA
CLSA
CLSA
CLSA
CLSA
CLSA
CLSA
Deutsche Bank
Deutsche Bank
CLSA
CLSA
Best overall sales services
Rank Bank%
1CLSA
23.87
2
Deutsche Bank
13.96
3
UBS
8.74
Best salesperson
Rank Name
1
Daniel Oen
2
Wuddy Warsono
3
Tim Huang
Firm%
CLSA
12.20
CLSA
8.85
CLSA
7.80
Best sales trader
Rank Name
1
Adnan Tan
2
Andreas Kongoasa
3
Sudjan Halim
Firm%
CLSA
16.11
CLSA
12.60
CIMB
11.71
best for roadshows and company visits
RankFirm
%
1CLSA
17.27
2 Deutsche Bank
15.70
3 Credit Suisse
9.77
most independent research brokerage
RankFirm
1CLSA
2 Deutsche Bank
3UBS
%
32.57
15.98
9.66
JAPAN
BEST LOCAL BROKERAGE
Rank Bank
1
Nomura
2
SMBC Nikko
3
Daiwa
%
36.22
18.88
18.37
BEST EXECUTION
Rank Firm
1
CLSA
2
Nomura
3
Mizuho
%
15.31
13.48
8.72
BEST FOR OVERALL COUNTRY RESEARCH
Rank Bank
1
Nomura
2
CLSA
3
Daiwa
%
17.91
16.92
8.86
BEST IN SALES TRADING
Rank Firm
1
CLSA
2
UBS
3
Barclays
%
29.96
17.36
10.83
BEST RESEARCH COVERAGE
Sector
Analyst
Strategy
Nicholas Smith
Macroeconomics
Nicholas Smith
Small Caps
Mariko Watanabe
Banks
Brian Waterhouse
Consumer Discretionary Chris Richter
Consumer Staples
Jun Kato
Walter Altherr
Energy
David Hewitt
Healthcare
Motoya Kohtani
Industrials
Morten Paulsen
Insurance
Walter Altherr
Materials
Naoto Saito
Real Estate
Cenk Simsek
Semiconductors &
Semiconductor Equipment Christian Dinwoodie
Oliver Matthew
Technology Hardware &
Equipment
Christian Dinwoodie
Telecommunications
Oliver Matthew
Transportation
Paul Wan
Utilities
Naoto Saito
Firm
CLSA
CLSA
UBS
CLSA
CLSA
CLSA
CLSA
Credit Suisse
Nomura
CLSA
CLSA
CLSA
CLSA
CLSA
CLSA
Rank
1
2
3
Firm
Mizuho
CLSA
SMBC Nikko
BEST FOR EVENTS AND/OR CONFERENCES
Rank Firm
1
CLSA
2
Mizuho
3
Nomura
%
20.70
18.84
13.62
%
18.58
18.36
17.56
BEST FOR ROADSHOWS AND COMPANY VISITS
Rank Firm
%
1
Nomura
20.90
2
SMBC Nikko
13.61
3
Daiwa
11.96
MOST INDEPENDENT RESEARCH BROKERAGE
Rank Firm
%
1
CLSA
47.95
2
Societe Generale
13.05
3
UBS
6.05
CLSA
CLSA
CLSA
CLSA
BEST OVERALL SALES SERVICES
Rank Bank
1
Nomura
2
CLSA
3
SMBC Nikko
MOST IMPROVED BROKERAGE
%
15.48
14.06
11.37
BEST SALESPERSON
Rank Name
1
Bilal Kapra
2
David Cotterchio
3
Jonathan Pool
Firm
CLSA
CLSA
UBS
%
7.61
7.17
5.65
BEST SALES TRADER
Rank Name
1
Shpendi Citaku
2
John Takeoka
3
Firm
CLSA
Societe Generale
BTIG
%
8.67
6.81
6.65
KOREA
Best local brokerage
Rank Bank%
1
Korea Investment & Securities
39.95
2Samsung
20.37
3
KDB Daewoo
10.16
best execution
RankFirm
1
Korea Investment & Securities
2Samsung
3CLSA
%
29.14
10.09
6.39
Best for overall country research
Rank Bank%
1
Korea Investment & Securities
26.39
2HSBC
11.54
3Samsung
11.03
best in sales trading
RankFirm
1
Korea Investment & Securities
2CLSA
3Samsung
%
44.45
13.38
10.03
Best research coverage
SectorAnalyst
Strategy
So-Yeon Park
Macroeconomics
Min-Kyoo Jun
Small Caps
Jee-Hyung Han
Banks
Chul-Ho Lee
Consumer Discretionary
Yeong-Sang Yeo
Consumer Staples
Kyoung-Ju Lee
Diversified Financials
Chul-Ho Lee
Energy
Matthew (Jung-Hoon) Yang
Healthcare
Jung-In Lee
Industrials
Kyung-Ja Lee
Insurance
Chul-Ho Lee
Materials
Moon-Sun Choi
Real Estate
Steve Chung
Semiconductors &
Semiconductor Equipment Won Seo
Software & Internet Services Jong-Gil Hong
Technology Hardware &
Equipment
Kevin (Seung-Hyuk) Lee
Telecommunications
Jong-In Yang Transportation
Hee-Do Yun
Utilities
Hee-Do Yun
most improved brokerage
over the last 12 months
RankFirm
1
Korea Investment & Securities
2HSBC
3Samsung
%
46.58
8.17
6.55
best for events and/or conferences
RankFirm
1
Korea Investment & Securities
2Samsung
3UBS
%
26.21
10.42
8.77
Firm
KIS
KIS
KIS
KIS
KIS
KIS
KIS
KIS
KIS
KIS
KIS
KIS
CLSA
KIS
KIS
KIS
KIS
KIS
KIS
Best overall sales services
Rank Bank%
1
Korea Investment & Securities
23.59
2HSBC
11.52
3Samsung
8.86
Best salesperson
Rank NameFirm
1
Dan Song
Korea Investment & Securities
2
Sung Namgoong Korea Investment & Securities
3
Elaine Chung
UBS
%
4.85
4.58
3.79
Best sales trader
Rank NameFirm
%
1
Joon Cho
Korea Investment & Securities 12.36
2
Janice Choi
Korea Investment & Securities 11.76
3
Paul Chung
Korea Investment & Securities 11.41
best for roadshows and company visits
RankFirm
%
1
Korea Investment & Securities
29.82
2Samsung
7.99
3UBS
5.95
most independent research brokerage
RankFirm
1
Korea Investment & Securities
2CLSA
3Samsung
%
44.27
14.04
6.01
MALAYSIA
Best local brokerage
Rank Bank%
1CIMB
36.67
2
Maybank - Kim Eng
32.08
3RHB-OSK-DMG
19.75
best execution
RankFirm
1CIMB
2 Maybank - Kim Eng
3CLSA
%
20.62
17.01
11.95
Best for overall country research
Rank Bank%
1CIMB
20.95
2
Maybank - Kim Eng
18.60
3RHB-OSK-DMG
12.67
best in sales trading
RankFirm
1
Maybank - Kim Eng
2RHB-OSK-DMG
3CIMB
%
23.20
22.30
22.16
Best research coverage
SectorAnalyst
Strategy
Terence Wong
Macroeconomics
Chee-Sing Lim
Small Caps
Nigel Foo
Banks
Desmond Ch'Ng Lye Hoe
Consumer Discretionary Nigel Foo
Consumer Staples
Kar-Mei Eng
Diversified Financials Winson Ng
Energy
Thong-Jung Liaw
Healthcare
Yen-Ling Lee
Industrials
Ivy Ng
Insurance
Winson Ng
Materials
Sharizan Rosely
Real Estate
Wei-Sum Wong
Semiconductors &
Semiconductor
Equipment
Jit-Hoong Chan
Software & Internet
Services
Nigel Foo
Technology Hardware &
Equipment
Chi-Wei Tan
Telecommunications
n/a Transportation
Raymond Yap
Utilities
Chi-Wei Tan
most improved brokerage
over the last 12 months
RankFirm
1RHB-OSK-DMG
2 Maybank - Kim Eng
3 DBS Vickers / Alliance Investment
%
18.53
15.66
10.31
best for events and/or conferences
RankFirm
1
Maybank - Kim Eng
2CIMB
3RHB-OSK-DMG
%
27.73
27.53
12.57
Firm
CIMB
RHB-OSK-DMG
CIMB
Maybank - Kim Eng
CIMB
CIMB
CIMB
Maybank - Kim Eng
Maybank - Kim Eng
CIMB
CIMB
CIMB
Maybank - Kim Eng
RHB-OSK-DMG
CIMB
Maybank - Kim Eng
CIMB
Maybank - Kim Eng
Best overall sales services
Rank Bank%
1CIMB
21.15
2
Maybank - Kim Eng
19.43
3RHB-OSK-DMG
13.30
Best salesperson
Rank NameFirm
1
Lucy Chong
Maybank - Kim Eng
2
Grace Yau
Maybank - Kim Eng
3
Kit Lim
CLSA
%
8.17
5.44
4.67
Best sales trader
Rank NameFirm
1
Hazel Yap
CLSA
2
Su-Yen Loke
Maybank - Kim Eng
3
Emery Ismail
CIMB
%
7.96
7.47
7.23
best for roadshows and company visits
RankFirm
%
1CIMB
20.55
2 Maybank - Kim Eng
20.31
3RHB-OSK-DMG
15.52
most independent research brokerage
RankFirm
1CLSA
2 Maybank - Kim Eng
3Jefferies-KAF
%
20.91
13.50
12.63
pakistan
Best local brokerage
Rank Bank%
1Topline
60.43
2
AKD Securities
19.16
3FSL/Macquarie
11.45
best execution
RankFirm
1Topline
2 KASB/Bank of America Merrill Lynch
3 Auerbach Grayson
%
35.72
12.03
10.43
Best for overall country research
Rank Bank%
1Topline
32.10
2
Credit Suisse
16.54
3HSBC
9.36
best in sales trading
RankFirm
1Topline
2HSBC
3 Foundation Securities
%
42.01
30.17
10.19
Best research coverage
SectorAnalyst
Strategy
Mohammad Fawad Khan
Macroeconomics
Sarah Mazher
Small Caps
n/a
Banks
Farhan Rizvi
Consumer Discretionary n/a
Consumer Staples
n/a
Diversified Financials n/a
Energy
Farhan Rizvi
Healthcaren/a
Industrialsn/a
Insurancen/a
Materialsn/a
Real Estate
n/a
Semiconductors &
Semiconductor
Equipmentn/a
Software & Internet
Servicesn/a
Technology Hardware
& Equipment
n/a
Telecommunications n/a Transportationn/a
Utilitiesn/a
most improved brokerage
over the last 12 months
RankFirm
1
Auerbach Grayson
2Topline
3 AKD Securities
%
18.39
13.79
11.49
best for events and/or conferences
RankFirm
1
Credit Suisse
2 Auerbach Grayson
3Topline
%
24.09
21.90
10.77
Firm
Foundation Securities
KASB
Credit Suisse
Credit Suisse
best for roadshows and company visits
RankFirm
%
1Topline
25.28
2 Credit Suisse
21.40
3 Auerbach Grayson
10.33
most independent research brokerage
RankFirm
1
Credit Suisse
2Topline
3 Auerbach Grayson
Best overall sales services
Rank Bank%
1Topline
32.53
2
Credit Suisse
14.98
3
Auerbach Grayson
10.26
Best salesperson
Rank NameFirm
1
Mohammed Sohail
Topline
2
Stephen Hagger
Credit Suisse
3
Baryalay Arbab
KASB
%
36.45
10.91
10.82
Best sales trader
Rank NameFirm
1
Samar Iqbal
Topline
2
John Chapman
HSBC
3
Muhammad Rameez
Foundation Securities
%
42.01
16.53
10.19
%
27.40
26.71
21.92
the philippines
Best local brokerage
Rank Bank%
1
Deutsche Regis
36.64
2
Maybank ATR Kim Eng
30.38
3
Philippine Equity Partners
23.61
best execution
RankFirm
1CLSA
2UBS
3 Deutsche Regis
%
31.81
13.48
11.65
Best for overall country research
Rank Bank%
1CLSA
29.04
2
Deutsche Regis
16.06
3
UBS
14.90
best in sales trading
RankFirm
1HSBC
2CLSA
3 Deutsche Regis
%
25.93
22.41
20.40
Best research coverage
SectorAnalyst
Firm
Strategy
Alfred Dy
CLSA
Macroeconomics
Anthony Nafte
CLSA
Small Caps
Hazel Tanedo
CLSA
Banks
Alfred Dy
CLSA
Consumer Discretionary
Hazel Tanedo
CLSA
Consumer Staples
Hazel Tanedo
CLSA
Diversified Financials
Alfred Dy
CLSA
Energy
Rafael Javier
CLSA
Healthcaren/a
Industrials
Jacqui Evangelista CLSA
Insurancen/a
Materials
Jacqui Evangelista CLSA
Real Estate
Carl Sy
Deutsche Regis
Semiconductors &
Semiconductor Equipment n/a
Software & Internet Services n/a
Technology Hardware &
Equipmentn/a
Telecommunications
Hazel Tanedo CLSA
Transportation
Jacqui Evangelista CLSA
Utilities
Jacqui Evangelista CLSA
most improved brokerage
over the last 12 months
RankFirm
1
Maybank ATR Kim Eng
2CLSA
3HSBC
%
31.00
17.91
10.15
best for events and/or conferences
RankFirm
1CLSA
2 Deutsche Regis
3UBS
%
28.80
19.94
19.47
Best overall sales services
Rank Bank%
1CLSA
31.04
2
Deutsche Regis
15.56
3
UBS
15.16
Best salesperson
Rank NameFirm
%
1
Alex Dauz
CLSA
20.75
2
Raphael Manalaysay
Maybank ATR Kim Eng
10.66
3
David Del Rosario
CLSA
10.50
Best sales trader
Rank NameFirm
%
1
Ruby Lao
CLSA
22.41
2
Daisy Ng
Deutsche Regis
11.00
3
Elena Lopez
Deutsche Regis
8.40
best for roadshows and company visits
RankFirm
%
1CLSA
27.37
2UBS
18.71
3 Deutsche Regis
14.99
most independent research brokerage
RankFirm
1CLSA
2 Maybank ATR Kim Eng
3 Philippine Equity Partners
%
25.54
24.68
10.59
singapore
Best local brokerage
Rank Bank%
1
DBS Vickers
36.32
2CIMB
20.54
3RHB-OSK-DMG
15.72
best execution
RankFirm
1
DBS Vickers
2CLSA
3RHB-OSK-DMG
%
18.60
14.97
8.56
Best for overall country research
Rank Bank%
1
DBS Vickers
12.95
2HSBC
11.97
3
UBS
11.79
best in sales trading
RankFirm
1UBS
2CLSA
3CIMB
%
15.64
11.51
11.09
Best research coverage
SectorAnalyst
Strategy
Janice Chua
Macroeconomics
Edward Teather
Small Caps
Terence Wong
Banks
Asheefa Sarangi
Consumer Discretionary
Andy Sim
Consumer Staples
Andy Sim
Diversified Financials
Kenneth Ng
Energy
Yue-Jer Lee
Healthcare
Andy Sim
Industrials
Yue-Jer Lee
Insurance
Asheefa Sarangi
Materials
Chuanyao Lu
Real Estate
Yew Kiang Wong
Semiconductors &
Semiconductor Equipment n/a
Software & Internet Services Edison Chen
Technology Hardware &
Equipment
Edison Chen
Telecommunications
Sachin Gupta Transportation
Robin Xie
Utilities
Ai-Teng Tan
most improved brokerage
over the last 12 months
RankFirm
1RHB-OSK-DMG
2 Maybank - Kim Eng
3CIMB
%
26.44
14.33
10.31
best for events and/or conferences
RankFirm
1
DBS Vickers
2 Morgan Stanley
3CLSA
%
14.56
11.83
9.59
Firm
DBS Vickers
UBS
RHB-OSK-DMG
CLSA
DBS Vickers
DBS Vickers
CIMB
RHB-OSK-DMG
DBS Vickers
RHB-OSK-DMG
CLSA
CLSA
CLSA
RHB-OSK-DMG
RHB-OSK-DMG
Nomura
UBS
DBS Vickers
Best overall sales services
Rank Bank%
1
DBS Vickers
15.29
2CLSA
12.12
3HSBC
11.29
Best salesperson
Rank Name
1
Keng-Hock Lim
2
Nicole Chan
3
Doris Chan
Firm%
UBS
6.79
RHB-OSK-DMG
5.18
CLSA
4.26
Best sales trader
Rank Name
1
Roger Tay
2
Kelvin Ong
3
Kenneth Low
Firm%
CIMB
7.05
UOB Kayhian
4.84
RHB-OSK-DMG
4.78
best for roadshows and company visits
RankFirm
%
1
DBS Vickers
17.20
2CLSA
13.82
3UBS
10.26
most independent research brokerage
RankFirm
1CLSA
2RHB-OSK-DMG
3 DBS Vickers
%
25.99
23.71
10.92
taiwan
Best local brokerage
Rank Bank%
1Yuanta
45.76
2
KGI
22.98
3Fubon
16.67
best execution
RankFirm
1Yuanta
2KGI
3UBS
%
22.25
13.17
9.97
Best for overall country research
Rank Bank%
1Yuanta
19.35
2
UBS
11.30
3HSBC
10.50
best in sales trading
RankFirm
1Yuanta
2HSBC
3UBS
%
27.59
21.79
9.71
Best research coverage
SectorAnalyst
Firm
Strategy
Vincent Chen
Yuanta
Macroeconomics
Aidan Wang
Yuanta
Small Caps
Ally Chen
UBS
Banks
Peggy Shih
Yuanta
Consumer Discretionary
Ally Chen
UBS
Consumer Staples
Ally Chen
UBS
Diversified Financials
Peggy Shih
Yuanta
Energy
Jennifer Liang
KGI
Healthcare
Peggy Lee
Yuanta
Industrials
Steve Huang
Yuanta
Insurance
Peggy Shih
Yuanta
Materials
Yvonne Tsai
Yuanta
Real Estate
Yen-Liang Chen
Yuanta
Semiconductors &
Semiconductor Equipment George Chang
Yuanta
Software & Internet Services DC Wang
Yuanta
Technology Hardware &
Equipment
Vincent Chen
Yuanta
Telecommunications
Bonnie Chang Yuanta
Transportation
Yvonne Tsai
Yuanta
Utilitiesn/a
most improved brokerage
over the last 12 months
RankFirm
1Yuanta
2KGI
3Nomura
%
34.66
7.01
6.90
best for events and/or conferences
RankFirm
1Yuanta
2UBS
3 Bank of America Merrill Lynch
%
16.25
15.61
11.83
Best overall sales services
Rank Bank%
1Yuanta
16.26
2HSBC
11.28
3
UBS
10.53
Best salesperson
Rank Name
1
Julie Tsai
2
Colleen Chang
3
Johnny Chen
Firm%
UBS
9.58
HSBC
4.94
CLSA
3.34
Best sales trader
Rank Name
1
Stark Zeng
2
Sharon Chao
3
Elsie Fan
Firm%
HSBC
11.33
Yuanta
8.79
HSBC
8.46
best for roadshows and company visits
RankFirm
%
1Yuanta
19.85
2KGI
10.85
3UBS
10.18
most independent research brokerage
RankFirm
1Yuanta
2CLSA
3KGI
%
38.21
13.40
9.93
thailand
Best local brokerage
Rank Bank%
1Phatra
45.80
2
Deutsche - TISCO
14.63
3Thanachart
14.24
best execution
RankFirm
1CLSA
2UBS
3 Maybank - Kim Eng
%
20.98
12.67
11.62
Best for overall country research
Rank Bank%
1CLSA
18.38
2Phatra
11.95
3
UBS
10.42
best in sales trading
RankFirm
1UBS
2CLSA
3HSBC
%
29.85
27.09
13.28
Best research coverage
SectorAnalyst
Strategy
Suchart Techaposai
Macroeconomics
Anthony Nafte
Small Caps
Maria Lapiz
Banks
David Beller
Consumer
Discretionary
Pisut Ngamvijitvong
Consumer Staples Pattawan Phanussopakul
Diversified
Financials
Worawat Saisuphatphol
Energy
Piyanan Panichkul
Healthcare
Suchart Techaposai
Industrials
Sansanee Srijamjuree
Insurance
Vilailuck (Peach) Patharavanakul
Materials
Paworamon (Poom) Suvarnatemee
Real Estate
Soraphob Panpiemras
Semiconductors
& Semiconductor
Equipmentn/a
Software &
Internet Services
n/a
Technology
Hardware &
Equipment
Chanpen Sirithanarattanakul
Telecommunications Pisut Ngamvijitvong Transportation
Eric Lin
Utilities
Narongpand Lisahapanya
most improved brokerage
over the last 12 months
RankFirm
1
Maybank - Kim Eng
2CLSA
3UBS
%
22.42
15.28
12.70
best for events and/or conferences
RankFirm
1CLSA
2Phatra
3UBS
%
26.07
12.15
11.23
Firm
CLSA
CLSA
Maybank - Kim Eng
CLSA
CIMB
CLSA
UBS
UBS
CLSA
Deutsche - TISCO
Deutsche - TISCO
Credit Suisse
CLSA
DBS Vickers
CIMB
UBS
CLSA
Best overall sales services
Rank Bank%
1CLSA
17.85
2
UBS
12.26
3CIMB
8.80
Best salesperson
Rank Name
1
Munmun Taveeratanasilp
2
Prinn Panitchpakdi
3
Pat Pattaphongse
Firm%
CLSA
13.89
CLSA
12.25
UBS
6.40
Best sales trader
Rank Name
1
Pongsupak Vongvivat
2
Michael Frost
3
George Chanthongkaew
Firm%
UBS
17.21
CLSA
9.05
CLSA
8.89
best for roadshows and company visits
RankFirm
%
1CLSA
21.02
2 Maybank - Kim Eng
9.54
3Phatra
7.52
most independent research brokerage
RankFirm
1CLSA
2 Maybank - Kim Eng
3Phatra
%
26.15
17.51
14.40
vietnam
Best local brokerage
Rank Bank%
1
Saigon Securities Inc (SSI)
47.02
2
Ho Chi Minh City Securities (HSC)
27.93
3
Viet Capital Securities (VCSC)
11.46
best execution
RankFirm
1
Saigon Securities Inc (SSI)
2 Ho Chi Minh City Securities (HSC)
3 Viet Capital Securities (VCSC)
%
40.72
31.87
9.15
Best for overall country research
Rank Bank%
1
Saigon Securities Inc (SSI)
39.06
2
Ho Chi Minh City Securities (HSC)
23.29
3
Viet Capital Securities (VCSC)
10.20
best in sales trading
RankFirm
1
Saigon Securities Inc (SSI)
2 Ho Chi Minh City Securities (HSC)
3 Viet Capital Securities (VCSC)
%
67.53
20.28
8.04
Best research coverage
SectorAnalyst
Strategy
Phuong Hoang
Macroeconomics
Hung Pham
Small Caps
Phuong Hoang
Banks
Hanh Nguyen Tam
Consumer Discretionary
Trang Pham
Consumer Staples
Kien Tran Nguyen
Diversified Financials
Hanh Nguyen Thi My
Energy
My Truong Thu
Healthcare
Minh Dinh
Industrials
Phuong Ton
Insurance
Duong Pham Thuy
Materials
Minh Dinh
Real Estate
Na Le
Semiconductors &
Semiconductor Equipment
n/a
Software & Internet Services Kien Tran Nguyen
Technology Hardware &
Equipment
Kien Tran Nguyen
Telecommunications
Kien Tran Nguyen Transportation
Trang Pham
Utilities
Kien Tran Nguyen
most improved brokerage
over the last 12 months
RankFirm
1
Saigon Securities Inc (SSI)
2 Ho Chi Minh City Securities (HSC)
3 VNDirect Securities (VCSC)
%
59.17
17.66
6.60
best for events and/or conferences
RankFirm
1
Saigon Securities Inc (SSI)
2 Ho Chi Minh City Securities (HSC)
3 Viet Capital Securities (VCSC)
%
35.72
26.16
22.14
Firm
SSI
SSI
SSI
HSC
SSI
SSI
HSC
HSC
SSI
VCSC
HSC
SSI
HSC
SSI
SSI
SSI
SSI
SSI
Best overall sales services
Rank Bank%
1
Ho Chi Minh City Securities (HSC)
29.87
2
Saigon Securities Inc (SSI)
20.89
3
Viet Capital Securities (VCSC)
15.10
Best salesperson
Rank NameFirm
%
1
Johan Kruimer
Ho Chi Minh City Securities (HSC) 24.84
2
Duc Nguyen Anh Ho Chi Minh City Securities (HSC) 18.13
3
Duc Nguyen Minh Ho Chi Minh City Securities (HSC) 9.49
Best sales trader
Rank NameFirm
1
Minh Mai
Saigon Securities Inc (SSI)
2
Nga Ngo
Saigon Securities Inc (SSI)
3
Thinh Duong
Saigon Securities Inc (SSI)
%
33.83
17.47
16.22
best for roadshows and company visits
RankFirm
%
1
Saigon Securities Inc (SSI)
35.14
2 Ho Chi Minh City Securities (HSC)
26.40
3 Viet Capital Securities (VCSC)
19.83
most independent research brokerage
RankFirm
1
Saigon Securities Inc (SSI)
2 Ho Chi Minh City Securities (HSC)
3 Viet Capital Securities (VCSC)
%
61.59
23.95
4.32
2014 Brokers Poll – Methodology
Asiamoney’s 25th annual Brokers Poll invited chief investment officers,
senior fund managers and senior investment analysts at fund management
houses, hedge fund & private equity firms, insurance companies and wealth
management houses in Asia-Pacific, Europe and North America. A total of
5,140 valid individual responses from 2,373 different institutions, including
423 hedge funds, were received.
The geographical breakdown of the final 2,373 institutions is as follows:
Singapore: 9.61%
Philippines: 0.59%
Others: 1.35%
North America: 6.78%
Taiwan: 9.44%
Thailand: 1.47%
Australia: 1.85%
Malaysia: 2.57%
Korea: 5.77%
China: 21.49%
Japan: 1.69%
Indonesia: 1.64%
India: 5.52%
Hong Kong: 20.14%
Europe: 5.69%
The questionnaire incorporates 16 different sections as follows:
Regional
China
Indonesia Malaysia
Singapore
Hedge Fund Hong Kong Japan
Pakistan
Taiwan
Australia
India
Korea
The Philippines Thailand
Vietnam
The questionnaire includes the following sections and categories:
Regional (Asia ex-Australia & Japan) section
• Most improved brokerage, across both research & sales, over the last 12
months.
Regional Equity Sales
• Best regional brokerages for sales services
• Best regional sales people
• Best regional sales traders
• Best regional brokerages for execution
• Overall regional research for Asia (ex Australia & Japan) as voted by most
active traders*
• Overall regional sales for Asia (ex Australia & Japan) as voted by most
active traders*
Regional Equity Research
The 12 industries covered are those given the highest weighting in the MSCI Asia
ex-Japan index as of 31 May 2014 – please refer to the GICS map for industry
definitions.
• Strategist
• Economist
• Quantitative/technical analyst
• Banks analyst
• Conglomerates analyst
• Consumer discretionary analyst
• Consumer staples analyst
• Diversified financials analyst
• Energy analyst
• Healthcare analyst
• Insurance analyst
• Materials analyst
• Real estate analyst
• Semiconductors & semiconductor equipment analyst
• Software, Internet & service analyst
• Technology hardware & equipment analyst
• Telecommunication services analyst
• Utilities analyst
• Most independent research brokerage
• Least independent research brokerage
Note: To quality for the region categories, firms, analysts and sales personnel
need to receive votes from three or more sovereign countries/independent
markets, to reflect that they are truly regional. Hong Kong is not considered a
sovereign country/independent market but part of the mainland China market.
* There are two new categories this year: Overall regional research for Asia (ex
Australia & Japan) as voted by most active traders and Overall regional sales
for Asia (ex Australia & Japan) as voted by most active traders. Asiamoney will
tabulate ranks for the new categories using data from respondents:
• who previously have passed Asiamoney Brokers Poll auditing in 2013
• nominated several banks/brokers in both 2013 and 2014 Asiamoney
Broker Polls
• are featured in client lists from various banks/brokers
• whose firms have over US$2 billion in annual trading volume
• whose firms have over US$501 million in AUM
Hedge Fund section – asked hedge funds their views on various categories
relating to hedge fund services and prime broking.
Country sections
• Most improved brokerage, across both research & sales, over the last 12
months
• Best local brokerage
Equity Sales
• Best overall sales service
• Best sales people
• Best sales traders
• Best brokerage for sales trading
• Best execution
Corporate Access
• Best for events and/or conferences
• Best for roadshows and company visits
Equity Research
• Best overall country research
• Best research analysts for strategy, macroeconomics, small caps and the
12 industries included in the regional section.
* Industries selected according to the relevant MSCI indices as of 31 May
2014.
• Most independent research brokerage
Calculation of Results
Points for Place
For all categories, a first place vote was awarded three points; second place
two points and third place one point.
“One Firm – One Vote”
To avoid any one institution having more influence than others of equal size,
multiple responses were fractioned according to the total number received
from that one institution.
Asset Size Weightings
Each response was then weighted according to the institution’s approximate
asset size (total unleveraged Asian equity funds under management) in
Asia-Pacific (ex-Australia & Japan), in Australia or in Japan (depending upon
the institution’s allocation of funds). The table below details the weightings
according to asset size (hedge fund firms have been weighted at six times
their assets to reflect their higher turnover rate):
Asset Size (US$millions)
<50
50-200
201-500
501-2,000
2,001-5,000
5,001-10,000
>10,000
No. of institutions
Multiplied by
489
522
334
394
241
154
239
0.5
1
4
8
12
16
20
Rankings for Overall Combined Regional Research & Sales, Overall Regional
Research & Overall Regional Sales
For the Asia (ex-Australia & Japan) rankings a country weighting system was
used to compare brokerages as a whole in the region. The rationale is that
the importance of markets varies across the region, so the points a brokerage
receives in major markets should be weighted more than the points it receives in smaller markets. The MSCI AC Asia ex-Japan (as of 31 May 2014) was
used to achieve this. A similar sector weighting system was used to address
the importance of the sectors within the region. Please refer to the following
tables for a mathematical breakdown:
Weightings for the overall research rankings
Regional (All)
30.00%
Multiplied by
- Strategy
3.00%
0.48
- Economics
2.00%
0.32
- Quantitative
1.00%
0.16
Banks
4.16%0.67
Consumer discretionary
2.43%
0.39
Industrial (aka conglomerates/capital goods)
1.68%
0.27
Materials
1.37%0.22
Consumer staples
1.34%
0.21
Real Estate
1.61%
0.26
Technology Hardware & Equipment
1.12%
0.18
Semiconductors & Semiconductor Equipment
2.78%
0.44
Telecommunication Services
1.46%
0.23
Energy
1.44%0.23
Insurance
1.17%0.19
Health care
0.33%
0.05
Utilities
0.96%
0.15
Transportation
0.43%0.07
Diversified financials
0.55%
0.09
Software & services
1.18%
0.19
Country (All)
70.00%
Multiplied by
- China
16.67%
2.67
- Hong Kong
8.76%
1.40
- India
6.28%
1.00
- Indonesia
2.30%
0.37
- Korea
14.37%
2.30
- Malaysia
3.42%
0.55
- Philippines
0.87%
0.14
- Singapore
4.59%
0.73
- Taiwan
10.79%
1.73
- Thailand
1.94%
0.31
Total100.00%
Weightings for the overall sales rankings
Regional
- Overall sales services
Market (All)
- China
- Hong Kong
- India
- Indonesia
- Korea
- Malaysia
- Philippines
- Singapore
- Taiwan
- Thailand
30.00%
30.00%
70.00%
16.67%
8.76%
6.28%
2.30%
14.37%
3.42%
0.87%
4.59%
10.79%
1.94%
Multiplied by
4.80
Multiplied by
2.67
1.40
1.00
0.37
2.30
0.55
0.14
0.73
1.73
0.31
Total100.00%
For the Australia and Japan overall combined research & sales rankings, the votes from the categories of best overall country research and best overall sales
service for each market were simply added together.
Asiamoney would like to thank those who helped design the questionnaire, as well as all respondents for taking the time to complete and return it. The
detailed results can also be viewed on our website, www.globalcapital.com/asia and full results will be published in the 2014 Brokers Poll Full Report, available
from 1 December 2014.
GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS)SM
FOR ENQUIRIES, PLEASE CALL MSCI 24 HR CLIENT SERVICE ON (852) 2848 6740
INDUSTRY GROUP (SELECTED) INDUSTRY
Automobiles & Components - auto components - automobiles
Banks - commercial banks
- thrifts & mortgage finance
Capital Goods - aerospace & defense - building products
- construction & engineering - electrical equipment
- industrial conglomerates - machinery
- trading companies & distributors
Commercial Services & Supplies
- commercial services & supplies
- professional services
Conglomerates ¹
- industrial conglomerates
Consumer Durables & Apparel - household durables - leisure equipment & products
- textiles, apparel & luxury goods
Consumer Services - hotels, restaurants & leisure - diversified consumer services
Diversified Financials - diversified financial services - consumer finance
- capital markets
Energy - energy equipment & services - oil, gas & consumable fuels
Food & Staples Retailing - food & staples retailing
Food, Beverage & Tobacco - beverages - food products
- tobacco
Healthcare
- health care equipment & supplies
- health care providers & services
- health care technology
Household & Personal Products - household products - personal products
Insurance- insurance
Materials - chemicals - construction materials
- containers & packaging - metals & mining
- paper & forest products
Media - media
Pharmaceuticals, Biotechnology & Life Sciences - biotechnology
- pharmaceuticals
- life science tools & services
Real Estate - real estate investment trusts (REITs)
- real estate management&development
Retailing - distributors - internet & catalogue retail
- multiline retail - specialty retail
Semiconductors & Semiconductor Equipment - semiconductors - semiconductor equipment
Software & Services - internet software & services - IT services
- software
Technology Hardware & Equipment - communications equipment - computers & peripherals
- electronic equipment & instruments - office electronics
- electronic components
Telecommunication Services - diversified telecommunication services - wireless telecommunication services
Transportation - air freight & logistics - airlines
- marines - road & rail
- transportation infrastructure
Utilities - electric utilities - gas utilities
- multi-utilities - water utilities
- independent power producers & energy traders
¹ Conglomerates refers to the Industry Industrial Conglomerates. It has been selected as a regional sector to replace Capital Goods to better reflect the industry
sectors covered by brokers within the region.
Disclaimer
This information is the property of Morgan Stanley Capital International Inc. (MSCI). It is provided for informational purposes only, and is not a recommendation to
participate in any particular trading strategy. The information may not be used to verify or correct data, or any compilation of data or index or in the creation of any
indices. Nor may it be used in the creating, writing, offering, trading, marketing or promotion of any financial instruments or products. This information is provided
on an “as is” basis. Although MSCI shall obtain information from sources which MSCI considers reliable, neither MSCI, its affiliates nor any other party involved in
the making or compiling of the information guarantees the accuracy and/or the completeness of any of this information. Neither MSCI, its affiliates nor any other
party involved in the making or compiling of the information makes any representation or warranty, express or implied, as to the results to be obtained by any person
or entity from any use of this information, and the user of this information assumes the entire risk of any use made of this information. Neither MSCI, its affiliates
nor any other party involved in the making or compiling of the information makes any express or implied warranties, and MSCI, its affiliates and any other party
involved in the making or compiling of the information hereby expressly disclaim all warranties of merchantability or fitness for a particular purpose with respect
to any of this information. Without limiting any of the foregoing, in no event shall MSCI, its affiliates or any other party involved in the making or compiling of the
information have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility
of such damages. Morgan Stanley Capital International, MSCI and all other service marks referred to herein are the exclusive property of MSCI and its affiliates. All
MSCI indices are the exclusive property of MSCI and may not be used in any way without the express written permission of MSCI. MSCI is a leading provider of global
indices and benchmark related products and services to investors worldwide. Morgan Stanley, a global financial services firm and a market leader in securities,
asset management, and credit services, is the majority shareholder of MSCI, and The Capital Group Companies, Inc., a global investment management group, is the
minority shareholder.