Collins Stewart, the global stockbroking firm, is set to expand its Irish equities offering, by appointing a new head of Irish equities sales and launching an independent weekly technical analysis of Irish equities. This follows the firm’s decision to dramatically increase its coverage of Irish stocks to almost 50.
The company is adding a number Irish stocks to its pan-European Quest database offering – an online cash flow analysis tool – at the request of its institutional clients, who are demanding analysis of the Irish market. Up to this point Collins Stewart had offered a daily pan-European analysis of stocks, which would have covered some of the larger Irish listed companies, like CRH. However, such is the demand for independent information of Irish stocks that Collins Stewart have taken three steps to meet demand.
Firstly, the firm has dramatically increased the coverage of Irish firms on Quest, rising from less than 20 to almost 50 companies. Secondly, it has gone on a recruitment drive, bringing in staff who have knowledge specific to the Irish market, as can be seen in the recent arrivals of Phil Taylor from ABN Amro Securities in London and Rob McMahon from NCB Stockbrokers as head of Irish equities. McMahon was rated fourth best sales person in FINANCE Magazine’s annual stockbroking survey in 2006. The third step will be the introduction of a weekly newsletter dedicated to Irish stocks.
Gary McCarthy, managing director of Collins Stewart’s Dublin office, told FINANCE, ‘All of these new development have been brought about because institutional investors are creating a demand. In a nutshell they are looking for independent analysis of the Irish market. We are reacting to this by offering an increased coverage of Irish companies on Quest. We are currently in the process of doing this and are looking at a number of IEX companies to add to the database.’ |
