The market for “independent thinking” | FT Alphaville

The market for “independent thinking”

We were NFI on the occasion of the 39th annual Thomson Reuters Extel survey awards ceremony, held at London’s Guildhall on Tuesday. But we shouldn’t allow that to stop us sharing the results.


  • Leading Pan-European Brokerage Firm for Equity and Equity-Linked Research: UBS
  • Leading Pan-European Fund Management Firm: JP MORGAN AM
  • Leading Pan-European Individual Equity Analyst: Andrew Wood, Sanford C. Bernstein
  • Leading Pan-European Sector Team (Equity): Chemicals Team, Bank of America Securities – Merrill Lynch
  • Leading Pan-European Sector Team (all Categories): Global Strategy team, Société Générale
  • Leading Pan-European Hedge Fund: Tudor Capital
  • Leading Pan-European Quoted Company for IR: Sanofi

It used to be the case that getting in the top three of any category or sector was good for a sizeable bump in pay; nowadays it’s just likely to help with job retention.

Berstein’s Wood — a specialist in food producers — seems to have a lock on the individual award. Ditto Albert Edwards and team at SocGen when it comes to Global Strategy.

Apparently, what came through in the survey results is that the buy-side value independent thinking in brokerage research above all else. No change there either.

More details here.