Though most may think of analyst notes as impersonal, strictly informative reports, many banks are trying to change that image. Merrill Lynch and Bank of America are pushing their analysts to create more personable, colloquial reports in the hopes of more effectively engaging readers and differentiating themselves.
“The only research that’s worthwhile is original, anticipatory ideas” that generate returns, she said in an interview at the bank’s office overlooking Bryant Park in Manhattan. “You have to tell clients something they don’t already know.” It also helps to show some personality. David Woo at Bank of America, for instance, likened the dollar-yuan exchange rate to a bad marriage in one report. Societe Generale SA’s Kit Juckes has been known to weave Bob Dylan lyrics and Latin proverbs into his notes. And at Credit Suisse Group AG, Shahab Jalinoos dropped rhymes by rapper Notorious B.I.G. into analysis of the Bank of Japan’s monetary policy.