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Thursday, 18th April 2024
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Survey shows emergence of new firms in stockbroking Back  
Davy Stockbrokers has again been voted the top rated stockbroking firm in Ireland, in this year’s Finance Stockbroking Survey. The firm retained the ‘blue riband’ categories for best firm in equity research and for providing best dealing service.

Last year, the leading institutional investors in Irish securities rated research as most important, but this year, possibly reflecting a new trend in the world of cyber investment dealing service has returned to its traditional position of top category of importance in stockbroking service. The change may also reflect concerns by investors about the quality of dealing service in the very busy market of the past year.

In individual rankings, Dan McLaughlin of ABN AMRO has been voted the top economist in this year’s Finance Stockbroking Survey. He takes the crown from last year’s winner Dermot O’Brien of NCB, climbing from the third place position in 1999. In second place was Jim O’Leary of Davy Stockbrokers, who previously held first position in the category throughout the 1990s.

But while there was some change at the top there were several champions who retained previous years’ crowns. While Davy maintained its lead in equity research and in the best dealing service categories NCB and Goodbody won in individual broker categories.

But newcomers Merrion Stockbrokers have entered the survey with some high rankings - and beating traditional players in some categories. Merrion was rated in third place for its electronically distributed research - an area the firm has placed particular importance on since its inception.

Fund managers rated ‘Day-to-day Dealing’ service as the most important aspect of stockbroking service this year, replacing ‘The Quality of Equity Research’ from its foremost position in the previous two surveys.

Leading the individual broker wins was ABN AMRO with both John Clarke and Pat O’Sullivan Greene getting a win in two categories.

Goodbody stockbrokers Joan Garahy and Liam Igoe won in the pharmaceutical and food categories.

Michael O’Sullivan of NCB retained his title of best bond research analyst while ABN AMRO won for the best bond dealing category.

The Finance Stockbroking Survey 2000, now in its fourteenth year, surveyed domestic and international fund and investment managers for their opinions on the stockbrokers in Ireland. This year the survey reflected the increased contribution of international institutional investors with a significant increase in responses from overseas. All significant investors in the Irish market took part. The survey begins on page 14 of the supplement contained within this issue.

Throughout the Supplement (which starts after page 6 of this edition) it is evident that the challenges facing the investment community today are mostly based on increasing competition within the market and the increasing globalisation of the industry itself. With many institutional investors in the Irish market now based overseas the challenges are there for stockbrokers to provide the services to these clients.

New entrants into ISE membership - Commerzbank and Merrill Lynch also demonstrate the internationalisation of the market.

Evident from the survey research and in interviews within the report are the different approaches the main players are taking to the market. ABN AMRO has positioned itself to provide European and Global coverage to its clients, while Davy, Goodbody and NCB are more focused on providing coverage of ‘Irish’ companies.

Other signs of the flux within the market are the changes at investor level and the growing potential of Dublin in a ‘post 2000 IFSC context’ as an international platform for fund management.
Evident from the interviews and articles within the supplement is the level of specialised services that stockbrokers are providing.

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