JP Morgan claimed the No. 1 spot in the annual ranking of generalist sales teams compiled by «Institutional Investor», with Switzerland’s UBS rising two spots to second. The survey included more than 1,000 buy-side analysts and money managers at about 700 companies.

Citi took third place, Morgan Stanley fourth and Bank of America the fifth position, slipping three place.

No. 1 in Specialist Sales

In the specialist sales ranking, a division that recognizes the top sales teams across 32 industries, UBS came first, ahead of three U.S. banks.

UBS and the big U.S. banks, which also performed strongly, all have successfully implemented the changes brought by MiFID II. The regulatory framework demands a transparent display of the services provided and the fees charged for those services.

Know Your Clients' Needs

«Institutional Investor» gauged the banks in respect to five attributes, such as how well they understood the needs of their clients and tailored products to satisfy those needs, as well as quality of service and also communication of the research product.