Bank of America Merrill Lynch, JP Morgan top Extel awards
LONDON (Reuters) - Bank of America Merrill Lynch (BAC.N) scooped the prize as top pan-European equity brokerage at the annual Thomson Reuters (TRI.TO) Extel Awards on Monday, ending UBS's (UBSN.VX) 12-year winning streak.
JP Morgan Asset Management (JPM.N) was named best fund manager for the fourth consecutive year.
The awards are among the most coveted prizes in the European financial industry and often referred to as Oscars of the sector, being based on the votes of thousands of industry insiders.
Strong votes can secure bragging rights for winning firms and, for highly rated individuals, can result in lucrative job offers and pay rises.
This year's awards reflect the votes of more than 15,000 individuals from almost 6,000 brokerages, fund managers, research houses and major European companies.
Voters picked Bank of America Merrill Lynch as leading pan-European broker in equity and equity-linked research, relegating Swiss-based UBS to second place.
In a repeat of 2012's results, Morgan Stanley (MS.N) came third in the category.
JP Morgan Asset Management held on to its crown as top money manager, extending a run that began in 2010, beating Fidelity Management & Research into second place. BlackRock Investment Management (BLK.N) jumped two places to third.
Andrew Wood, a food and household products sector specialist at Sanford C. Bernstein, was presented with the individual prize for leading equity analyst for the seventh year running in a ceremony at London's Guild Hall.
JP Morgan Cazenove's Sophie Warrick leapt 60 places to be named runner-up.
On the buy-side, UBS Global Asset Management's Philip Guest piped last year's winner Peter Lawrence of JP Morgan Asset Management to claim the title of leading fund management individual.
GLG Partners regained its 2009 crown as the top hedge fund. Tudor Capital held on to second position, while Exane Asset Management climbed seven places to finish third.
The awards also cover companies' investor relations teams. German insurer Allianz SE (ALVG.DE) took the top spot from French drugmaker Sanofi SA (SASY.PA), which slipped from first to third behind Vodafone Plc (VOD.L).
The Extel awards are based on a survey conducted by Thomson Reuters (TRI.N) between March and early May. This year marked the 40th anniversary of the survey.
Steve Kelly, managing director at Extel, said the 2013 survey involved record participation, with respondents identifying "direct client service and a strong business proposition" as the most valuable attributes for investment companies.
(Editing by David Holmes)
- Confusion as search for Malaysian jet spreads across SE Asia |
- Malaysia military source says missing jet veered to west |
- Toddler found with heroin at New Jersey daycare center
- Special Report: How China's official bank card is used to smuggle money |
- UPDATE 1-Missing Malaysian plane last seen at Strait of Malacca-source