To select the members of our 2026 Emerging EMEA Research Providers, Extel solicited the opinions of portfolio managers and analysts at institutions with major securities holdings in emerging EMEA. We received responses from 888 investment professionals at 462 institutions.
Participants first rated their top firms in each sector on a scale from 1-5, and then separately rated individual analysts or economists/strategists at those firms to create two distinct results for each sector. A numerical score was produced by weighting each vote based on both the responding firm’s emerging EMEA equity commissions and their rating.
Using those scores, ranks were then determined. Firms/analysts were designated runners‐up when their scores came within 35 percent of the third-place scores.
The individuals surveyed are kept confidential to ensure continuing cooperation. Voters are required to meet eligibility requirements, and winners must achieve a minimum vote count. All ballots are subject to review by the Research Operations Group.
In 2026, the only thread of consistency across the markets of emerging Europe, the Middle East and Africa (EMEA) has been one of inconsistency, according to the region’s sell-side research providers.
"EMEA equities have seen a wide divergence in performance, reflecting differences in domestic growth, policy settings and exposure to global trade and commodities,” Gareth Jenkins, head of EMEA Research at UBS said. “Some markets have benefited from structural reform momentum or favorable external balances, while others have been more impacted by geopolitical tensions.”
The persistent geopolitical uncertainty impacted more than just the equity markets, confirmed Sophie Warrick, head of EMEA equity research and global head of research client engagement. “Our priority was first and foremost on the personal considerations for our teams where the conflict had a first-hand impact, and the resilience they showed while dealing with the disruption was commendable,” she said. “Leveraging corporate access in a timely manner continues to be a significant differentiator, as does our analysts’ ability to consistently identify opportunities that emerge through the turbulence.”
