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Dalibor Vavruska
& team
Citi
"He has an almost unmatched level of attention to detail in his work."
Jumping from third place to lead the lineup for the first time is Dalibor Vavruska’s five-member squad at Citi. Covering 20 companies from offices in India, Israel, South Africa and the U.K., the analysts believe that the industry is undergoing a change from voice to data as the key driver of revenue; the impact of this transition will vary according to each telecommunications services provider’s infrastructure as well as local market regulations, Vavruska explains. “Overall, we are neutral on the sector with a positive bias toward mobiles with growth,” he says. “We are most optimistic about wireless operators in emerging markets with relatively underdeveloped fixed-line infrastructure and already high competition in voice.” Russia-based Mobile TeleSystems is among the names the researchers are currently recommending. Vavruska, 41, “has been around for a very long time — that’s important because one has to be aware of the way the sector developed during the years,” observes one buy-side loyalist. “It’s not only about earnings-per-share or price-earnings ratios, it’s about the total picture.” The team leader earned a master’s degree in mathematical engineering at the Czech Technical University in Prague and an MBA at the Rochester Institute of Technology in the U.S.; he joined Citi in 2011 after covering the sector for ING Equity Markets. — Pam Baker