Matthew Nacard & team Macquarie Capital Securities

“Excellent corporate contacts and conferences,” as one appreciative investor puts it, help the Macquarie Capital Securities squad helmed by Matthew Nacard climb from runner-up, where the team spent the past two years, to third place. Working out of offices in Sydney, the analysts are “especially strong on giving strategy advice,” according to one portfolio manager. Nacard declined to respond to our repeated requests for an interview, and no one at the firm wished to respond on his behalf. — Ben Mattlin