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Saturday, 20th April 2024

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Bloxham clean sweep in institutional bonds

In what was a close run thing in last year’s survey, Bloxham have won as the overall winner as the leading domestic player in the Irish bond market. The manner of Bloxham’s victory, a clean sweep of the eleven categories in bonds, is a turnaround on last year’s result where Davy won six categories compared to five for Bloxham.

Pramit Ghose, managing partner at Bloxham’s, gives some background to this performance by Bloxham showing the focus Bloxham has on its bonds business on page 21. He says, ‘With bond issuance across the western world set to expand sharply in the credit crisis, bond broking is undergoing something of a renaissance.’ In light of this potential increase in the level bond trading, it may be an area other Irish stockbroking houses may see opportunities in going forward. In the individual categories Bloxham have also performed well.

Alan McQuaid of Bloxham’s wins ‘Best Research Economist - Bond Markets’ ahead of Donal O’Mahony at Davy’s who won the award in 2006. In the ‘Best Bond Sales Person’ category John Power also of Bloxham’s wins leaping up to the top of the table from fifth place. The firm also take second position where last year’s winner Tom Reilly comes second. Davy’s have five in the top ten showing there strength in the bonds sector. The highest rated is Barry Nangle who takes third spot.

The title for the best non-Irish bond winners is tight. Both Barclays and RBS, formerly ABN AMRO, tied in first place with three titles each out of the nine categories. Merril Lynch are close behind the front runners winning two categories and lastly Deutsche Bank win one award. Priority amongst voters has remained the same at the top of the criteria table.

Last year ‘Execution & Ability to Deal in Size’ was and remains the leader as the most important factor and day to day sales also remains in second place. ‘Capacity for Delivering Strategic Investment Advice’ has grown in importance from fifth to third while ‘Quality of Bond Research’ has fallen to fifth place.