THIRD TEAM

Jesus Romero & team BofA Merrill Lynch Global Research

Unranked last year, the BofA Merrill Lynch Global Research team guided by Jesus Romero finishes third. The five-analyst team provides “solid, high-conviction calls,” says one impressed investor. In February 2010 the analysts upgraded Portugal Telecom from hold to buy, at €6.83, making the case that the sovereign-debt crisis then looming in Greece would drive demand for the stock as a defensive play in a turbulent market environment. The stock had zipped to €8.38 by the end of the year, a gain of 22.7 percentage points.