Stockbroking Suvey 2005
Davy Stockbrokers has once again out-performed all other stockbroking firms, in this year's annual FINANCE Stockbroking Survey 2005, in which over 1,000 fund managers, both domestic and international, were polled. However, as in 2003, Goodbody Stockbrokers has also come away with one of the top titles, 'Best Irish Equity Research Overall', in a year in which Merrion Capital also polled very strongly, taking the 'Research Report of the Year' award, and NCB Stockbrokers positioned well in a number of key categories. Both Bloxham Stockbrokers and newcomer Collins Stewart made their presence felt in this year's survey, with Bloxham putting in a particularly strong performance in the bonds section.
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Davy is still ahead of the pack, but Goodbody scoops award for best research
Davy Stockbrokers has once again out-performed all other stockbroking firms, in this year’s annual FINANCE Stockbroking Survey 2005, in which over 1,000 fund managers, both domestic and international, were polled. However, as in 2003, Goodbody Stockbrokers has also come away with one of the top titles, ‘Best Irish Equity Research Overall’, in a year in which Merrion Capital also polled very strongly, taking the ‘Research Report of the Year’ award, and NCB Stockbrokers positioned well in a number of key categories. Both Bloxham Stockbrokers and newcomer Collins Stewart made their presence felt in this year’s survey, with Bloxham putting in a particularly strong performance in the bonds section. |
‘Unbundling’ will be issue in industry going forward
The rise of ‘unbundling’ of commission charges amongst brokerages, whereby stockbrokers charge different prices for different services, ie execution, proprietary research etc, will be a key challenge for the industry in Ireland going forward. Other challenges include the dearth of new issues of scale on the Irish Stock Exchange, despite the arrival of the Irish Enterprise Exchange. FINANCE speaks to Roy Barrett, Tony Garry, Adrian O’Carroll and Conor O’Kelly. |
Investors focus on liability side of funds
With many pension funds suffering large deficits, today clients are much more focused on the liability side of their funds, says Noel O’Halloran, director and chief investment officer at KBC Asset Management Ltd, leading to clients looking to achieve more stable, consistent, returns, with an emphasis on reducing the downside risk. |
Ireland’s stockbroking firms come full circle
Although there has been little change in recent times amongst Ireland's two largest stockbroking firms, Davy Stockbrokers and Goodbody Stockbrokers, their counterparts in the Irish market have seen a role reversal, with Merrion Capital losing its independence in favour of the wider opportunities a partnership with Icelandic bank Landsbanki can offer, and NCB choosing independence, having transacted a management buy-out of the firm last year. |
ESN: collaborating to compete in a pan-European market
Although local insight is still sought after by fund managers, having access to a global network of brokerage firms can offer a competitive advantage to stockbrokers in an increasingly globalised industry. In 2002 NCB Stockbrokers joined the European Securities Network, which has provided the firm with access to a pan-European service in research, sales and trading, writes Alan Foy. |
Davy maintains pole position in firm ratings
Davy Stockbrokers has retained its dominance in the overall firm ratings in this year’s survey, taking six titles out of a newly expanded eleven categories. However, it has lost one of the survey’s biggest awards, ‘Best Irish Equity Research Overall’, to Goodbody Stockbrokers, who last won this title in 2003. Elsewhere, NCB Stockbrokers won two categories, while Merrion also performs well with one win. |
Davy and Goodbody dominate individual analyst categories
After a particularly strong performance in this section in last year’s survey, Goodbody must share the spoils with Davy, with five titles apiece. Elsewhere Merrion’s Robert Brisbourne polled well to knock stalwart John O’Reilly of Davy from the top of the foods category, with his colleague John Mattimoe also winning a title. |
O’Carroll takes title for second year running
Merrion’s Adrian O’Carroll has inched out NCB’s Alan Duff to take title. |
Research and execution services remain priorities
Fund managers say ‘Quality of equity research’ and ‘Execution/Ability to Deal in Size’ are the two most important qualities they look for when choosing a broker. |
Kelleher takes title for first time
It’s two titles for Davy’s Robbie Kelleher as he scoops another award |
Citigroup dominates international rankings
Smith Barney Citigroup wins three out of the five titles |
Brisbourne wins crown for first time
Merrion’s Robert Brisbourne wins title |
Merrion takes research report title
Report on C&C has been voted top research report. |
Davy’s dominance continues in bonds
Davy has scooped a number of top awards including, ‘Best Overall Bond/Fixed Income Research’, and ‘Best Sales Service’ in the bond section of this year’s survey. Goodbody, NCB and Bloxhams also performed well, however, with all firms winning a title. |
Bringing Europe together
The European clearing and settlement market has undergone huge changes over the past ten years. FINANCE speaks to Pierre Francotte, chief executive officer of international securities settlement giant Euroclear, to understand what lies behind its business strategy for delivering a ‘domestic settlement market for Europe’. |
Infrastructure is set to enter period of change
The next eighteen months will see fundamental change in the clearing and settlement infrastructure which underpins securities trading in Europe, writes Brian Healy, who says that Ireland is well placed to avail of the opportunities which such enhancement and consolidation bring, but Irish market participants need to fully engage with these developments to gain maximum advantage and to avoid any risk of negatively differentiating the Irish market from the first tier of progressive European securities markets. |
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