Five years ago, US banks ruled the roost when it came to European credit research. They won 8 out of 12 investment-grade and high-yield sectors in 2001's credit research poll. In 2002, when Euromoney began weighting votes by funds under management, US banks won all 16 categories in the poll. Morgan Stanley reigned supreme in investment-grade, Merrill Lynch in high-yield and indices. In five categories, US banks swept the first, second, and third spots.
But the days when US banks ruled the roost for European credit research are over. After its coup...
