JPMorgan Chase is the most used-broker for roadshows, according to the latest research from IR Magazine. The 13th annual Global Roadshow Report from IR Magazine shows JPMorgan Chase topping the lists for both in-person and virtual roadshows.
The next-most used brokers for in-person roadshows are Bank of America Merrill Lynch and Morgan Stanley. These two brokers are also the joint-third most-used brokers for virtual roadshows, with Citi holding second place.
Research for IR Magazine’s Global Roadshow Report 2022 was conducted in Q3 of this year, so it studied roadshow activity from Q3 2021 to Q3 2022. This covers a period that saw a return to in-person roadshows as Covid-19 pandemic travel restrictions were gradually lifted.
The report shows that 54 percent of companies went on the road during this time, compared with just 7 percent at the height of the pandemic. Virtual roadshows outnumbered in-person roadshows two to one, with a third of all roadshows held in person.
The return to the road has been welcomed by IR teams. While general satisfaction with both virtual and in-person roadshows is high, just under three quarters of IROs who have been on the road were very satisfied with the experience, compared with 42 percent who said they were very satisfied with the virtual roadshows they held.
The polls show that as companies return to the road, they commonly use the same brokers for both formats. Of the top 10 most-used brokers for in-person roadshows, eight feature in the top 10 list for virtual roadshows.
There are some exceptions. Barclays Capital is fourth in the table for most-used broker for in-person roadshows, but does not feature in the top 10 for virtual roadshows. HSBC and Stifel both feature in the top 10 most-used brokers for virtual roadshows, but fail to make the top 10 for in-person roadshows.
There are also regional differences in the brokers used. While JPMorgan Chase tops the in-person list for North American and Asian companies, Bank of America Merrill Lynch is the most-used broker for in-person roadshows by European companies.
JPMorgan may be the most-used broker for virtual roadshows globally, but it does not top any of the regional lists. Stifel is the most-used broker for virtual roadshows among North American companies, Kepler Cheuvreux is top for companies in Europe and UBS tops the list for virtual roadshows by Asian companies.
The 13th annual Global Roadshow Report features in the winter 2022 edition of IR Magazine. It is also available free to download or view online. Click to read IR Magazine Global Roadshow Report 2022