Itau BBA Unseats BTG Pactual as Latam's Top Research Firm, Institutional Investor Survey Finds

HSBC, the year’s biggest upward mover, jumps into the top ten at No. 9

Online PR News – 06-August-2013 – Tuesday, August 6, 2013 – Itau BBA vaults from fifth place all the way to first on the 2013 Latin America Research Team, Institutional Investor’s 21st annual Ranking of the region’s leading sell-side analysts. The Sao Paulo-based firm unseats crosstown rival BTG Pactual, which falls to third place. Complete survey results can be found by visiting,

Itau’s team position total surges by 50 percent, from 16 to 24. Put another way, Itaú teams fail to rank in only one of the survey’s 25 categories: North Andean Countries. Bank of America Merrill Lynch holds steady in the No. 2 spot despite enjoying strong gains of its own: It captures five more positions this year, for a total of 23. The only sectors in which this firm’s crews don’t rank are Financials/Nonbanks and Health Care.

Although BTG Pactual tumbles from the top spot to share third place with J.P. Morgan, its team-position total falls by only one, to 21. J.P. Morgan’s total reflects a gain of four. Rounding out the top five is Morgan Stanley, which slips from No. 3 after losing one position, leaving it with 16.

HSBC is the year’s biggest mover. Its team-position total increases from one to four, enough to propel the U.K.-based firm from No. 12 to No. 9.

These results reflect the opinions of more than 810 investment professionals at some 420 buy-side institutions that collectively manage more than $418 billion in Latin American equities and nearly $265 billion in Latin American debt.

For more information, please contact Alyssa Walker at or +1 (212) 224-3677.

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