SECOND TEAM

Jan Hein de Vroe & team ING Equity Markets

The eight-analyst ING Equity Markets troupe conducted by newcomer Jan Hein de Vroe shoots straight in to second place. The researchers, who are based in Amsterdam and Brussels, excel at arranging interviews with representatives of Low Country companies and government officials: “My colleagues and I had meetings when they came through the New York Stock Exchange, and we covered a lot of ground,” explains one buy-side backer. Top calls include a November 2009 upgrade from hold to buy on Kortrijk, Belgium–based N.V. Bekaert, at €32.68, on the coating and wire-products manufacturer’s low valuation, strong balance sheet and exposure to high-growth emerging markets. The stock had skyrocketed 162.9 percent, to €85.90, by year-end 2010 and soared past Europe’s broad market by a phenomenal 158.3 percentage points.