For the first time in 29 year, RBC Capital Markets took first place away from BMO Capital Markets in a ranking of equity research departments published by Brendan Wood International, a Toronto-based research and consulting firm.

BMO Capital Markets ranked second, followed by TD Newcrest, CIBC World Markets and Scotia Capital

The survey of 258 money managers and buy-side analysts was conducted during the 12 months that ended Sept. 1, Brendan Wood said.

Before the latest survey, BMO Capital Markets ranked first for overall research in the Brendan Wood International survey since 1981.

The survey ranked 18 RBC Capital Markets analysts as “TopGuns” — the most of all the broker/dealers — marking the second year in a row that RBC has received this level of recognition. A TopGun analyst is one who finishes in the top three in their individual sector. Eight first-place, eight second-place and two third-place rankings were awarded to RBC analysts.

“The recognition from the global Brendan Wood International panel is a testament to the depth and breadth of our research team,” says Richard Talbot, RBC Capital Markets’ co-head of global research. “We are tremendously proud of our team’s insightful research which delivers well-informed content and timely investment ideas to our clients.”

IE