Citigroup’s Analysts Take Top Honors in Greenwich Associates Poll

Take that Meredith Whitney.

The annual Greenwich Associates poll of the BuySide ranking the SellSide put Citgroup analysts on the top of the heap. And for bloggers who obsess over all things Goldman, their showing in the poll confirms what I always knew about their equity research efforts.

Yes, it is mediocre, at best.

1) Citigroup
2) JP Morgan
3) Merrill Lynch
4) Lehman Brothers
5) Bear Stearns
6) Tie Morgan Stanley
6) Tie Credit Suisse
8) Bank of America
9) Goldman Sachs
10) Sanford Bernstein
11) UBS

Of course, snaring a top ranking does not mean jack in this environment. The ranks of SellSide analysts continued to be thinned out and it is hard to see the trend being reversed any time soon.

Morgan Stanley recently lost it two associate directors of U.S. research, including the regarded James Valentine, who cited for lowered research standards for his resignation.

Morgan Stanley has cut 4,500 jobs over the past year, including 1,500 in May alone as the firm tries to get its cost structure in line with the new realities on Wall Street.

And while Morgan’s equity research team moved up two slots this year to number six, laid off analysts will not be getting a pro-rated bonus for their 2008 efforts.

Of course, working at top ranked Citigroup does not assure much in the way of job security either, heads will continue to roll there as Vikram Pandit slashed and burns.

And speaking of Citi, Meredith Whitney’s Oppenheimer operation was no where near the top ten, confirming their third tier status.

Last person to leave SellSide equity research, please turn out the lights.
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No Position

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