Bank of America, JPMorgan stay top in 2014 Extel awards
By Clare Hutchison
LONDON (Reuters) - Bank of America Merrill Lynch (BAC.N: Quote) was named top pan-European equity brokerage for a second straight year at the annual Thomson Reuters Extel Awards on Tuesday, while JPMorgan Asset Management won best fund manager for the fifth year in a row.
The awards, which were handed out in a ceremony at London's Guild Hall, are significant badges of honor in the industry as they are based on the votes of thousands of industry insiders.
Strong votes can secure bragging rights for winning firms and, for highly rated individuals, can result in lucrative job offers and pay rises.
In a repeat of 2013's results, Bank of America Merrill Lynch scooped the prize for leading pan-European brokerage in equity and equity-linked research, ahead of 12-time winner UBS UBSN.VX. Morgan Stanley (MS.N: Quote) remained in third place.
JPMorgan Asset Management (JPM.N: Quote) was joined in the top three in the best fund manager category by Wellington Management and Fidelity Worldwide Investment, which last year placed fifth and fourth respectively.
Among individual prize winners was Andrew Wood of Sanford C. Bernstein, who for the eighth consecutive year took home the trophy for leading pan-European equity analyst.
JPMorgan Asset Management's Peter Lawrence reclaimed the title of top fund management individual from Philip Guest of UBS Global Asset Management, who came second.