Bank of America leapfrogged rival BNP Paribas Exane to top a closely-watched ranking of analysts in Europe as research budgets for leading investment banks remain strained.
The US investment bank jumped from second to first in the Europe 2022 Institutional Investor rankings, ahead of BNP Paribas Exane and JPMorgan. The move marks a rapid rise up the rankings for Bank of America, which placed fifth in 2020.