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A "business analyst" is such a general term. It can mean anything from involvement in IT to accounting

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take the equity role

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Yes, this gonna be Business Analyst in financial software vendor company. Exactly as DarienHacker mentioned, 'liason between business side and IT', fairly exposed to interacting clients.

Equity analyst would involve making stock recommendations, etc.

So what would you say? There are plenty of posts here by chaps who want to get out of IT, but not so much about Business Analyst role specifically. On other hand, equity analyst can be a great career start in asset management, the route is becoming Portfolio Manager or Fund Manager one day.

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Business analyst may also be a glorified accountant.

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yes I think there's a terminology issue. At least in the US, BA is definitely IT. (Sort of a liason between business side and IT, but career track is definitely IT.)

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isnt business analyst more an IT role ?

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