Menno Sanderse & team, Morgan Stanley
The buy side says: “Menno is invariably ahead of the news flow.”
Menno Sanderse’s Morgan Stanley threesome lands at No. 1 for a third year running. London-based Sanderse, 38, “always comes to the point quickly,” applauds one supporter. The crew earns high marks for downgrading Air France-KLM from overweight to equal weight in February 2011, at €11.79, largely on declining revenues, and then to underweight in June, at €10.64, on pricing pressure owing partly to a drop-off in Japanese demand. By the end of the year, shares of the French airliner had nose-dived 62.7 percent, to €3.97, since the second downgrade. Also pleasing clients was a series of reports on supply and demand trends, unit costs and valuations in the containers market — a subsector made up of freight forwarders and shipping lines — that included an upgrade of Germany’s Deutsche Post from equal weight to overweight in September, at €9.56, on its healthy cash position and dividend yield. The stock had surged 24.3 percent, to €11.88, and trumped the sector by 19.2 percentage points, by the end of December.
