The
big players continue to dominate the financial adviser
tables, with HSBC Investment Bank consolidating its overall
position in preparation for an assault on the top slot.
UBS
Warburg continues to dominate the 'size' tables, boasting
both the biggest collection of UK stock market company
clients and those making the most
profit last quarter. Indeed, Warburgs has been hot on
the client acquisition trail recently, adding a net 7.5
new clients to its previous tally of 136, and cementing
its first place position over distant runner up HSBC Investment
Bank. The previous quarter's runner up, Dresdner Kleinwort
Wasserstein, completed the podium placings, only one client
further back. With 143.5 clients, Warburgs is unlikely
to be challenged any time soon for the top slot in that
contest. However, Warburgs' lead over HSBC narrowed considerably
in the other 'size' table, as its aggregate client profitability
contracted sharply this quarter. Dresdner Kleinwort Wasserstein
held onto third place.
HSBC's
consistency shone through in the rankings of financial
advisers with the
fastest growing clients; the firm jumped two places this
quarter to finish just behind top dog Investec Henderson
Crossthwaite. Deutsche Bank leapt 7 places to number three,
while last quarter's top dog, Peel Hunt tumbled
into fifth place, with most of the minor rankings also
characterised by a shuffling of positions. Indeed, this
was the most volatile of all four rankings, though the
other 'growth' table, clients with fastest increasing
earnings, was not to be outdone in all respects. While
Investec Henderson Crossthwaite retained pole position,
Brewin Dolphin jumped 9 places to appear in the runner's
up position, and last quarter's number 4, Close Brothers
Corporate Finance, slumped to 11th. Clearly corporate
sector woes mean that few advisers can take their positions
for granted.