SECOND TEAM

Tony Tsang  Deutsche Bank

Tony Tsang moved from Citi to Deutsche Bank in May 2010 but remains firmly ensconced in the No. 2 spot he held last year. Investors applaud the analyst’s “responsiveness” and “actionable ideas,” and one money manager insists that Tsang is “the most diligent and intelligent analyst I’ve known.” Tsang upgraded Hang Lung Properties from sell all the way to buy in July, at HK$29.77, on the belief that the Hong Kong–based developer of malls and shopping centers was poised to benefit from rising Chinese consumption. The stock rose as high as HK$40.30 in early November before drifting back down to end April at HK$34.55, for a 16.1 percent gain that outperformed the sector by 8.8 percentage points.