Thiago Capucci Macruz Itaú BBA First-place appearances: 0

Total appearances: 1

Team debut: 2014 Making his first appearance on this list with a third-place finish is Itaú BBA’s Thiago Capucci Macruz, who also earns the No. 2 spot in Education. Dubbed “an up-and-comer to watch” by one portfolio manager, São Paulo–based Macruz has been a voice of caution on Brazil’s health care space. He has steadfastly maintained a market perform rating on his universe of four stocks, largely owing to the Brazilian economic slowdown, with one exception: Qualicorp. Macruz began reporting on the São Paulo–based corporate benefits administrator in February, assigning the shares an outperform rating. He continues to appreciate the company’s “prospects for strong top-line growth led by its exposure to health care inflation and the increasing penetration of affinity health care insurance products,” he explains. By the end of July, Qualicorp had bolted 26.4 percent, to 26.25 reais, outperforming its peers by 8 percentage points. It remain’s Macruz’s only positive recommendation, with a target price of 28.30 reais.