Fixed income research poll 2007: Credit research – Other products and markets

Banks might pay for indifference to research Ups and downs in 2007  Fixed income research poll 2007 results Credit research – Best overall Credit research – Investment grade Credit research – High yield Credit research – Other products and markets Trade ideas Overall Trade ideas – Structured credit Trade ideas – Investment grade Trade ideas […]

Banks might pay for indifference to research
Ups and downs in 2007
 
Fixed income research poll 2007 results
Credit research – Best overall Credit research – Investment grade
Credit research – High yield Credit research – Other products and markets

Trade ideas Overall

Trade ideas – Structured credit
Trade ideas – Investment grade Trade ideas – High yield
Trade ideas – ABS Trade ideas – Other products and markets
Most highly regarded Overall Methodology
Credit derivatives
2007 2006 Team Score
1 JPMorgan — Jonathan Goulden, Dirk Muench, Saul Doctor, Yasemin Saltuk, Peter Allen & team 14.72%
2 4 Société Générale — Julien Turc, Guy Stear 14.42%
3 1 Citi — Matt King and team 10.37%
4 3 Morgan Stanley — McLeish, Mahadevan, Hjort 9.58%
5 2 Deutsche Bank — Jean-Paul Calamaro & team 9.02%
6 7 UniCredit (HVB) — Jochen Felsenheimer, Philip Gisdakis 8.97%
7 8 Barclays Capital — Lorenzo Isla, Soren Wilemann, Arne Soulier 8.68%
8 11 Dresdner Kleinwort — Domenico Picone, Emiliano Formica, Priya Shah, Richard Huddart, Shreepal Gosrani, Gunnar Stangl and team 4.87%
9 9 UBS — Geraud Charpin, Etienne Varloot, Efrosyni Charalampidou 4.68%
10 10 Merrill Lynch — Jón Jónsson, Alberto Gallo and Abel Elizalde 4.65%
11 6 Lehman Brothers — Arun Singhal 4.02%
12 12 Credit Suisse — team 2.35%
13 14 RBS — Siobhan Pettit, Gregorios Venizelos, Matt Wiesner 1.36%
14 ING — Umang Vithlani 0.60%
15 CIBC — team 0.55%
16 HSBC — team 0.51%
17 Natixis — team 0.49%
18 Fortis — Fortis team 0.17%
Asset backed
2007 2006 Team Score
1 4 Merrill Lynch — Alexander Batchvarov, William Davies and Altynay Davletova 10.80%
2 1 Deutsche Bank — Ganesh Rajendra & team 10.77%
3 3 Lehman Brothers — Krishna Prasad, Arun Singhal 10.33%
4 2 Barclays Capital — Hans Vrensen, Maddi Patel, Phil Adams, Mark Nichol, Anca Badea 9.88%
5 8 Citi — Birgit Specht, Sophia Kauntze, Matt King, Ratul Roy 9.56%
6 5 RBS — Ron Thompson, Michael Cox, Siobhan Pettit, Gregorios Venizelos, Matt Wiesner 6.45%
7 12 UniCredit (HVB) — Marco Krohn 6.23%
8 10 HSBC — Markus Herrmann, Peng Sun 6.16%
9 9 Société Générale — Jean-David Cirotteau, Christopher Greener 5.88%
10 6 Morgan Stanley — Howard Esaki, Sarah Barton, Vishy Tirupattur 5.37%
11 11 Dresdner Kleinwort — Domenico Picone, Emiliano Formica, Priya Shah, Richard Huddart, Shreepal Gosrani 4.21%
12 UBS — Reto Bachmann, Matthew Pritchard 3.48%
13 JPMorgan — Ed Reardon, Rishad Ahluwalia,Chirstopher Flanagan, Kateryna Plinska and team 2.55%
14 14 BNP Paribas — team 2.05%
15 Natixis — team 1.76%
16 13 Credit Suisse — team 1.67%
17 Fortis — Fortis team 1.54%
18 CIBC — team 0.69%
19 ING — team 0.61%
Covered bonds / pfandbriefe
2007 2006 Team Score
1 2 UniCredit (HVB) — Franz Rudolf, Florian Hillenbrand, Valentina Stadler 21.04%
2 1 Dresdner Kleinwort — Ted Packmohr and Annegret Hasler 18.93%
3 3 Barclays Capital — Fritz Engelhard, Leef Dierks 8.58%
4 9 Société Générale — Jose Sarafana 8.00%
5 5 Deutsche Bank — Ralf Preusser 7.56%
6 6 UBS — Regina Koelsch 6.02%
7 4 HSBC — Gregor Beckmann, Johannes Rudolph 4.98%
8 Natixis — team 4.70%
9 7 BNP Paribas — Heiko Langer 3.99%
10 Credit Suisse — team 2.96%
11 JPMorgan — Roberto Henriques, Christian Leukers & team 2.68%
12 8 Morgan Stanley — Michelle Bradley 2.65%
13 10 RBS — Frank Will 2.44%
14 Citi — team 1.97%
15 Fortis — Fortis team 1.07%
16 Merrill Lynch — Tolu Alamutu 0.73%
17 CIBC — team 0.72%
18 13 Lehman Brothers — Lehman team 0.69%
19 ING — Maureen Schuller 0.27%
Index and portfolio analytics
2007 2006 Team Score
1 1 Lehman Brothers — Lee Phillips & team 25.27%
2 2 UBS — Julie Chakraverty & team (UBS Credit Delta) 12.41%
3 JPMorgan — Jonathan Goulden, Saul Doctor and team 10.34%
4 3 Merrill Lynch — Phil Galdi, Patrick Trezise, Caroline Harrison and Alberto Ruiz-Sena 8.37%
5 10 Dresdner Kleinwort — Gunnar Stangl, Suraj Tanna, Peter Werno 6.59%
6 6 Deutsche Bank — Fergus Lynch & team 5.85%
7 9 Société Générale — Guy Stear, Juan Valencia 5.26%
8 11 BNP Paribas — Vivek Tawadey, Mehernosh Engineer & Rajeev Shah 5.13%
9 5 Citi — Yield Book: Laurent Barocas, Sanjay Rao, Patrick Baude 4.92%
10 8 Barclays Capital — John Williams 3.80%
11 7 UniCredit (HVB) — Jochen Felsenheimer, Philip Gisdakis 3.24%
12 13 Credit Suisse — team 2.58%
13 12 Morgan Stanley — Morgan Stanley 2.39%
14 CIBC — team 1.14%
15 14 HSBC — team 1.01%
16 Fortis — Fortis team 0.93%
17 15 RBS — Pete Eggleston, Matt Knowles, Raphael Albrecht, Gavin White and Jonathan Horrocks 0.72%
18 Natixis — team 0.05%
Quant cr and modelling
2007 2006 Team Score
1 2 Société Générale — Julien Turc & team 20.95%
2 JPMorgan — Jonathan Goulden, Dirk Muench, Saul Doctor, Yasemin Saltuk, Peter Allen & team 13.44%
3 1 Citi — Matt King and team 11.62%
4 3 Deutsche Bank — Jean-Paul Calamaro 10.63%
5 9= BNP Paribas — Vivek Tawadey, Mehernosh Engineer & Rajeev Shah 6.76%
6 4 Lehman Brothers — Lutz Schloegl 5.98%
7 12 Barclays Capital — Graham Rennison, Ulf Erlandsson, Arup Ghosh, Matthew Leeming 5.69%
8 UBS — Anthony Morris, Efrosyni Charalampidou, Etienne Varloot 5.11%
9 7 UniCredit (HVB) — Jochen Felsenheimer, Philip Gisdakis 5.07%
10 5 Morgan Stanley — Sivan Mahadevan 4.11%
11 9= Credit Suisse — team 2.98%
12 8 Merrill Lynch — Alberto Gallo and Abel Elizalde 2.74%
13 11 Dresdner Kleinwort — Domenico Picone, Gunnar Stangl and teams 2.17%
14 HSBC — team 1.03%
15 15 RBS — Pete Eggleston, Matt Knowles, Raphael Albrecht, Gavin White and Jonathan Horrocks 0.71%
16 Fortis — Fortis team 0.46%
17 CIBC — team 0.40%
18 Natixis — team 0.13%
Corporate/Financial hybrids
2007 2006 Team Score
1 JPMorgan – Olek Keenan, Roberto Henriques, Jonathan Goulden and team 19.12%
2 Société Générale – Julien Turc, Suki Mann, Eleanor Yeh 12.85%
3 Deutsche Bank – James Maxwell 8.74%
4 BNP Paribas – Mehernosh Engineer, Vivek Tawadey & team 8.34%
5 Dresdner Kleinwort – A.Muthreich, R.Mattila, N.Myer 7.63%
Electronic platforms
2007 2006 Team Score
1 UBS – Julie Chakraverty & team (UBS Credit Delta) 14.93%
2 Lehman Brothers – Lehman team 14.70%
3 JPMorgan – J.Goulden, D.Muench, S.Doctor, Y.Saltuk, P.Allen & team 10.88%
4 Deutsche Bank – Deutsche team 8.95%
5 Société Générale – Guy Stear, Julien Turc, Denis Groven 7.71%
European emerging market corporates
2007 2006 Team Score
1 1 Dresdner Kleinwort — Eugene Popov, Vladlen Andryushencko, Arnab Das & team 19.74%
2 5 UBS — Kathlen Middlemiss 16.77%
3 4 ING — Andre Andrijanovs, Pavel Simacek and team 12.19%
4 JPMorgan — Victoria Miles, Allison Bellows Tiernan, Tatiana Tchembarova & team 11.26%
5 7 UniCredit (HVB) — Felix Fischer & team 5.69%
6= 2 Barclays Capital — Milena Ianeva 5.45%
6= Citi — team 5.45%
8 HSBC — team 5.20%
9 Deutsche Bank — Deutsche team 5.07%
10 10 Merrill Lynch — Shokat Khan 4.21%
11 6 Credit Suisse — team 3.65%
12 RBS — team 1.42%
13 12 Morgan Stanley — Morgan Stanley 1.24%
14 8 Société Générale — Benot Hubaud, Denis Groven & team 0.80%
15 BNP Paribas — Marc Watton & team 0.74%
16 9 Lehman Brothers — Kaushik Rudra 0.68%
17 Fortis — Fortis team 0.25%
18 Natixis — team 0.19%
European emerging markets strategy
2007 2006 Team Score
1 1 Dresdner Kleinwort — Arnab Das, Jon Harrison and team 15.62%
2 JPMorgan — Joyce Chang, Will Oswald and team 14.14%
3 3 Deutsche Bank — Marc Balston, Piero Ghezzi & team 11.93%
4 9= UniCredit (HVB) — Martin Blum & team 9.12%
5 8 UBS — Filippo Nencioni 7.69%
6 4 Barclays Capital — Matthew Vogel, Jeff Gable 6.60%
7 Citi — team 5.03%
8 5 Credit Suisse — team 4.73%
9 6 ING — David Spegel and Luis Costa 4.48%
10 HSBC — team 4.04%
11 BNP Paribas — Cyril Beuzit & Hans Redecker & teams 2.96%
12 9= Merrill Lynch — Mehmet Simsek & team 2.41%
13 11 Morgan Stanley — Morgan Stanley 2.22%
14 13 RBS — team 1.97%
15 7 Lehman Brothers — Tolga Ediz 1.82%
16= CIBC — team 1.77%
16= Natixis — team 1.77%
18 12 Société Générale — Ciaran O’Hagan, Jos Sarafana 1.48%
19 Fortis — Fortis team 0.20%
European emerging market sovereigns research
2007 2006 Team Score
1 JPMorgan — Joyce Chang, Michael Marrese and team 14.95%
2 1 Dresdner Kleinwort — Arnab Das and team 14.82%
3 7 UniCredit (HVB) — Martin Blum & team 10.05%
4 3 Deutsche Bank — Michael Spencer 9.27%
5 4 Barclays Capital — Matthew Vogel, Jeff Gable 8.03%
6 UBS — Clemens Grafe 5.87%
7 8 ING — Charles Robertson and team 5.23%
8= Credit Suisse — team 4.08%
8= Citi — team 4.08%
10 11 Société Générale — Ciaran O’Hagan, Jos Sarafana 3.90%
11 5 Merrill Lynch — Mehmet Simsek & team 3.53%
12 Natixis — team 3.30%
13 10 RBS — team 2.94%
14 6 Morgan Stanley — Morgan Stanley 1.97%
15 9 Lehman Brothers — Kaushik Rudra 1.83%
16 CIBC — team 1.79%
17 HSBC — team 1.51%
18 Fortis — Fortis team 1.47%
19 BNP Paribas — Paul Mortimer Lee & team 1.38%
Western European Sovereign and supranational
2007 2006 Team Score
1 10= Société Générale — Vincent Chaigneau & team 15.93%
2 1 Dresdner Kleinwort — Daniel Pfaendler and team 13.45%
3 3 Deutsche Bank — Deutsche team 9.07%
4 4 UniCredit (HVB) — Michael Rottmann & team 8.81%
5 2 Barclays Capital — George Johnston, Huw Worthington, Cagdas Aksu 7.83%
6 7 HSBC — Steven Major, Andre De Silva 7.61%
7 BNP Paribas — Paul Mortimer Lee & team 6.81%
8 6 Citi — Michael Saunders, Mark Schofield and teams 5.31%
9= JPMorgan — JPMorgan team 4.87%
9= 13= Lehman Brothers — John Butler & team 4.87%
11 5 UBS — Clemens Grafe 4.34%
12 8 Morgan Stanley — Morgan Stanley 2.52%
13 13= Credit Suisse — team 2.39%
14 Natixis — team 2.30%
15 12 RBS — team 1.64%
16 10= Merrill Lynch — Tolu Alamutu and Antonio Villarroya 1.37%
17 Fortis — Fortis team 0.84%
18 15 ING — Padhraic Garvey and Wilson Chin 0.04%
Western European Sub-sovereigns and agencies
2007 2006 Team Score
1 UniCredit (HVB) — Valentina Stadler, Luis Maglanoc 18.26%
2 Dresdner Kleinwort — Daniel Pfaendler, Andrea Wehmeier and team 17.77%
3 Deutsche Bank — Deutsche team 9.83%
4 Société Générale — Vincent Chaigneau, Jose Sarafana, Ciaran O’Hagan 9.50%
5 HSBC — team 8.68%
6 Barclays Capital — George Johnston, Huw Worthington, Cagdas Aksu 7.02%
7 RBS — Frank Will 6.45%
8 BNP Paribas — Cyril Beuzit & team 5.21%
9 Merrill Lynch — Tolu Alamutu and Antonio Villarroya 4.55%
10 UBS — Clemens Grafe 3.64%
11 Credit Suisse — team 2.89%
12 Natixis — team 2.48%
13 JPMorgan — JPMorgan team 1.16%
14 CIBC — team 0.66%
15 Lehman Brothers — Kaushik Rudra 0.58%
16 ING — Padhraic Garvey and Wilson Chin 0.50%
17= Citi — team 0.41%
17= Morgan Stanley — Morgan Stanley 0.41%
Western European Corporate/Financial hybrids
2007 2006 Team Score
1 JPMorgan – Olek Keenan, Roberto Henriques, Jonathan Goulden and team 19.12%
2 Société Générale – Julien Turc, Suki Mann, Eleanor Yeh 12.85%
3 Deutsche Bank – James Maxwell 8.74%
4 BNP Paribas – Mehernosh Engineer, Vivek Tawadey & team 8.34%
5 Dresdner Kleinwort – A.Muthreich, R.Mattila, N.Myer 7.63%
Western European Electronic platforms
2007 2006 Team Score
1 UBS – Julie Chakraverty & team (UBS Credit Delta) 14.93%
2 Lehman Brothers – Lehman team 14.70%
3 JPMorgan – J.Goulden, D.Muench, S.Doctor, Y.Saltuk, P.Allen & team 10.88%
4 Deutsche Bank – Deutsche team 8.95%
5 Société Générale – Guy Stear, Julien Turc, Denis Groven 7.71%