JPMorgan Bond Group Tops Institutional Investor Poll on Record 55 Rankings
JPMorgan Chase & Co.’s fixed-income research group was voted No. 1 in Institutional Investor magazine’s poll of U.S. money managers, who awarded the firm a record 55 rankings.
The magazine surveyed more than 1,100 investors and analysts at about 440 institutions managing almost $9 trillion in U.S. fixed-income assets. JPMorgan, which took first place in 26 of the categories, supplanted the former Lehman Brothers Holdings Inc. research operations bought by Barclays Capital, which had reigned for a decade, the annual poll showed.
“We’ve benefited a lot from the global nature of our franchise and our research team,” said Terry Belton, Chicago- based global head of fixed-income strategy at JPMorgan.
Belton leads the top-ranked team in interest-rate derivatives and, along with New York-based JPMorgan analyst Srini Ramaswamy, is joint head of the first-placed general strategy team, according to the magazine.
Joyce Chang, global head of the bank’s credit research department in New York, and strategist Luis Oganes both got top billings in emerging-market categories.
Peter Acciavatti, head of U.S. high-yield and leveraged loan credit strategy at JPMorgan, polled No. 1 in his category for the eighth straight year.
Top TIPS
Barclays’s Michael Pond’s team took top position for Treasury Inflation Protected Securities for the third year, while the U.K. bank’s Peter DeGroot headed the No. 1 group for municipals strategy, according to Institutional Investor. Peter Hooper at Deutsche Bank AG in New York was voted first for economics.
Bank of America Merrill Lynch Global Research and Goldman Sachs Group Inc. held on to their third and fourth places, respectively, followed by Wells Fargo Securities, Deutsche Bank, Credit Suisse Group AG, Nomura Securities International Inc., Citigroup Inc. and RBS Securities Inc.
Institutional Investor produced the numerical score that determined the overall positions by weighting investors’ votes based on their U.S. assets under management and the ranking they gave each team.
2010 2009
Ranking Firm Ranking
1 JPMorgan 2
2 Barclays Capital 1
3 Bank of America 3
Merrill Lynch Global Research
4 Goldman Sachs 4
5 Wells Fargo Securities 5
6 Deutsche Bank 7
7 Credit Suisse* 6
7 Nomura Securities -
International*
9 Citigroup# 9
9 RBS Securities# 8
* The firms tied for 7th place.
# The firms tied for 9th place.
To contact the reporters on this story: Shelley Smith in Hong Kong at ssmith118@bloomberg.net; Bryan Keogh in London at bkeogh4@bloomberg.net
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