The
number of financial advisers has remained at fourteen
firms this quarter, but there has been continued volatility
in the composition of the rankings.
UBS
Warburg continued its dominance of the client rankings
last quarter, increasing its lead over second-placed
Dresdner Kleinwort Wasserstein to 58.5 stock market
company clients. HSBC Investment Bank remained in third
place with no net change in its clientele. Two firms
dropped out of the table altogether. Last quarter's
newcomer, Credit Suisse First Boston is no longer featured,
and a similar fate befell Williams de Broe. In their
place, Brewin Dolphin Securities Ltd entered at ninth
position and Deutsche Bank AG London at number thirteen.
Last quarter's other newcomer to the tables, Seymour
Pierce Limited, dropped one place to eleventh spot.
Warburgs
continued its substantial dominance over its rivals
in the other size table, clients making the most profit.
HSBC Investment Bank jumped one place to second, on
the back of an increase in client profits, but made
little impact on Warburgs' substantial lead, while Dresdner
Kleinwort Wasserstein leaped three places to third.
Last quarter's runner up, NM Rothschild, fell to fourth
place. Behind them, the most notable performance came
from Close Brothers Corporate Finance Ltd with a 50%
increase in client profitability to £749.5m. Sadly
the performance was not enough to improve on the firm's
eighth position, though bulge bracket status is surely
not too far off. Newcomers Deutsche Bank AG London and
Brewin Dolphin Securities Ltd achieved seventh and thirteen
place respectively.
In
the growth tables, the smaller company specialists Peel
Hunt & Co and Investec Henderson Crosthwaite traded
blow for blow. Peel Hunt retained its pole position
in the table of fastest growing clients, with Investec
Henderson Crosthwaite up four positions to take runner
up on the podium. Old Mutual Securities retained the
other podium place, while Lazard Brothers slipped to
fifth position. The top slots were revered in the other
growth table, clients with the fastest increasing earnings,
where Peel Hunt lost first place to Investec Henderson
Crossthwaite, while HSBC Investment Bank jumped four
places to third.
Overall,
HSBC is the most consistently placed financial adviser
across the four rankings, well ahead of second-placed
Investec Henderson Crosthwaite and UBS Warburg in third.
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