Jorge Kuri & team Morgan Stanley First-place appearances: 1

Total appearances: 17

Team debut: 1994 Morgan Stanley’s squad led by Jorge Kuri slips one position on this lineup to No. 3. The New York– and São Paulo–based analysts maintain a cautious view on banks in Brazil but are positive on the prospects for those in Mexico. Their top picks are Mexican financial services firm Grupo Financiero Banorte and Brazil’s Cielo, the region’s largest credit and debit card processor. “Banorte is building a top-class franchise based on differentiated customer service, technological leadership and a superior product offering,” explains Kuri. “We think the bank will continue to generate above-industry growth in the coming years.” In addition, the analysts are forecasting that the Mexican economy and domestic banking activity will recover strongly over the remainder of this year. The analysts are bullish on Cielo because “the payment industry is a fast-growing and highly profitable business around the world,” he says, “more so in Brazil, given a friendlier regulatory environment, lower penetration and concentrated industry structure.”