SECOND TEAM

Gunnar Hamann, Andreas Hürkamp & team Commerzbank Corporates & Markets

Commerzbank Corporates & Markets’ three-person team, co-captained by Gunnar Hamann and Andreas Hürkamp, rises one notch to No. 2. Investors credit a palpable growth in strength to its May 2009 merger with Dresdner Bank. “Among all of the country’s banks, they are the most focused on covering German companies,” insists one money manager. In late November 2009, when the DAX 30 index was priced at 5,625.95, the analysts set a target of 6,900. The Frankfurt-based team’s bullish view was predicated on a confluence of factors, including the index’s exposure to cyclical stocks and emerging markets, as well as rising corporate spending on capital improvements. Sticking to their guns throughout a challenging 2010 proved wise: In December 2010 the DAX crossed the 6,900 mark, and it closed that month at 6,914.19 — for a gain of 22.9 percent that outpaced Europe’s broad market by 14 percentage points.