Adam Frisch Morgan Stanley

Unranked last year, Adam Frisch returns to the roster in third place; he held the No. 2 spot for three years straight, through 2008, when he was with UBS. Frisch joined Morgan Stanley in September 2009 and hit the ground running, impressing his new clients as a “hungry, smart, hard-working professional” who is “constantly available.” The analyst downgraded Paychex from neutral to sell in January, at $30.64, advising that the Rochester, New York–based payroll-services provider was experiencing margin pressure owing to aggressive price-cutting by its competitors. The stock had tumbled 18.8 percent, to $24.89, by the end of August.