< The 2014 All-America Research TeamWilliam KatzCitiFirst-place appearances: 0

Total appearances: 4

Team debut: 2011William Katz debuted on this roster in 2011 as a runner-up and remained in that position until this year. The Citi analyst vaults to second place, winning plaudits for his responsiveness and comprehensive coverage. “Bill is usually the first analyst out with quality research on every issue impacting his sector,” observes one admirer. Katz’s favorite name in the group is Atlanta-based Invesco. The asset manager’s executive team has accomplished a “holistic improvement of its business,” he says, “to capture what I think is going to be disproportionate market share and operating leverage over the next cycle.” He projects that the firm will emerge as the next dominant global investment manager because its leaders have spent the past few years putting money back into Invesco, from the U.S. retail and institutional markets to fixed income and Europe, and tying it all together on a global basis. Additionally, Invesco’s net business trends are trending up, explains Katz, and its strong mix of higher-fee products is boosting margins at a time when much of the industry is struggling with lower fees and less attractive metrics. Another preferred name is New York’s Blackstone Group, which the researcher says is benefiting from an institutional and retail investor shift away from such traditional products as mutual funds and toward alternative vehicles, including distressed strategies, hedge funds and private equity. Moreover, Blackstone is “among the fastest organic growth stories,” Katz declares. “It’s the best diversified. It’s the most liquid name. And its real estate and hedge fund businesses are pretty well differentiated versus their peers.”