| Davy dominates in absence of other big firm |
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| Davy dominates the bonds section of this year’s survey, winning a total of six titles. However, Bloxham has edged closer to the firm, winning two titles for the first time ‘Best Back Office/Settlement’ and ’Best Overall High Yield Service’. |
With Goodbody, NCB and AIB Primary Dealing Unit (PDU) no longer providing bonds
services, the number of firms competing in this section has declined significantly, clearing the field for Davy to win most awards. As a result, in the domestic section, Davy has won six titles, with Bloxham picking up two. | | Donal O'Mahony |
Domestic firms
Fixed income fund managers have voted Davy as the firm offering the ‘Best Overall Bond/Fixed Income Research’, a title the firm also won in 2003. In the absence of Goodbody, NCB and AIB PDU, Bloxham moves into second place, followed by Dolmen Butler Briscoe in third.
‘Best for Ability to Deal in Size/Execution Service’ also goes to Davy, with Bloxham again runner-up, followed by Dolmen Butler Briscoe again in third. In last year’s survey Bloxham beat out the likes of AIB PDU and NCB in this category to come third.
‘Best Research Economist/ Analyst’ goes to Davy’s Donal O’Mahony, who last won the award in 2004. Alan McQuaid, a regular competitor in this section, is runner-up.
Davy is also regarded as offering the ‘Best Sales Service - Irish Bonds (Government & Corporate)’, a title it has won for the past two years. In third place in last year’s survey, Bloxham moves into second place this year, followed by Dolmen.
Bloxham pips Davy at the post to win the ‘Best Back Office/Settlement’ award, marking the first time that the mostly retail stockbroking firm has won a title in the stockbroking survey. Davy follows closely behind, followed by Dolmen again in third.
Having won the ‘Best Research Economist’ award, it is no surprise that ‘Best Research Products’ also goes to Davy, who beats out the advances of both Bloxham and Dolmen.
Within the niche bond sectors, Davy rises to the top for providing the ‘Best Overall Asset Backed Securities (ABS) Service’, but Bloxham makes it two titles this year, by winning the ‘Best Overall/High Yield Service’ category.
Performance criteria
As in last year’s survey, ‘Quality of Bond Research’ remains the number one factor fixed income investment managers consider when choosing a stockbroker. This is followed by ‘Day-to-Day Sales Service’, which moves up one place from last year, and ‘Capacity for Delivering Strategic Investment Advice’ follows in third. ‘Back Office Service/Settlement’ moves up one place from fifth to fourth this year.
International firms
Smith Barney Citigroup and Merrill Lynch dominate the international bond rankings.
Merrill Lynch jumps into joint first place for providing ‘Best Overall Bond/Fixed Income Research’ amongst the international brokerages servicing the Irish market, tying with last year’s winner Deutsche Bank. Morgan Stanley moves up into third place, followed by Goldman Sachs and Barclays Capital.
The award for ‘Best for Ability to Deal in Size/Execution Service’ also goes to Merrill Lynch, followed by Deutsche Bank and Dresdner Kleinwort Wasserstein.
Elsewhere in the international rankings, Deutsche Bank is recognised for ‘Best Sales Service - Global Bonds (Government and Corporate)’, followed by UBS and Dresdner Kleinwort Wasserstein.
‘Best Back Office/Settlement’ is shared between Morgan Stanley and Smith Barney Citigroup, with UBS and Merrill Lynch slipping into third and fourth place respectively.
Barclays Capital jumps up from fifth place last year to take the title of ‘Best Research Products’ in this year’s survey, with Morgan Stanley as runner-up, and Credit Suisse First Boston and Merrill Lynch tying in third place.
Within specific bond sectors, ‘Best Overall Asset Backed Securities (ABS) Service’ goes to Smith Barney Citigroup, with Merrill Lynch runner-up, and ABN AMRO in third place. For high yield bonds, the ‘Best Overall High Yield Service’ award again goes to Smith Barney Citigroup with Merrill Lynch runner-up, and ABN AMRO in third place once more. |
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