Street Talk

Best IB research and trading teams revealed by Peter Lee rival

Sarah Thompson, Kanika Sood and Emma Rapaport

Updated Apr 29, 2025 – 3.21pm, first published at 2.12pm

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Enjoy Peter Lee’s annual tally of the street’s best-loved investment banking teams? Here’s a new addition to your reading list.

New York-headquartered Extel Insights (originally known as Institutional Investor Research) has published its inaugural list of the best sell-side research teams for investment banks in Australia and New Zealand, as ranked by buy-side teams. Extel said it received responses from 336 portfolio managers and analysts at 185 firms, and investment banks did not pay a fee to be ranked.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.