Groaning under the weight of massive credit-related losses, many global banks spent the past year eliminating research positions and scaling back stock coverage. Not ISI Group. The New York-based independent research firm has been expanding Its equity research bench and has picked up some of the Street's most highly regarded analysts. ISI's latest hire is Heather Bellini, who joined last month from UBS and has been No. 1 in the Software sector on the All-America Research Team, Il's annual ranking of the nation's leading equity analysts, since 2006. The firm also nabbed two former Merrill Lynch & Co. analysts, Stephen Sakwa (leader of last year's No. 1 team In RElTs) and Edward Najarian (No. 2 last year In Banks/Large-Cap).
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