Feel free to exchange exultations, insults and sour-grape rationalizations below.
Bank of America Merrill Lynch claimed the crown for leading pan-European brokerage firm for equity and equity-linked research in the Thomson Reuters Extel rankings, putting an end to a 12-year run for UBS. The U.S. bank had ranked second last year.
Morgan Stanley retained third place….
UBS also lost the top spot in the equity sales ranking, dropping to second behind Citigroup.
However, it retained its number one spot in the trading and execution rankings, ahead of Morgan Stanley and Bank of America Merrill Lynch.
UBS Toppled After 12 Years at the Top of Extel [FN via WSJ MoneyBeat blog]
Bank of America Merrill Lynch, JP Morgan top Extel awards [Reuters]