CAZENOVE
STILL KING OF THE CASTLE AS CSFB AND DEUTSCHE TAKE A TUMBLE
Two
firms bit the dust this quarter, following Merrill Lynch
last quarter's casualty out of the tables.
This
time it was the turn of Credit Suisse First Boston (Europe)
Ltd and Deutsche Bank AG to take a tumble. CSFB lost a total
of 14.5 clients over the last three months, while Deutsche
Bank lost a massive 23.5, so both firms fell well below
the number clients needed for qualification. Williams de
Broe took up the mantle, its 62 clients giving it 12th place
in the listings of stockbrokers with the largest number
of quoted clients.
No
other firm could muster sufficient clients to feature in
the tables.
At the
top of the rankings by largest stock market company clientele,
Cazenove extended its lead over runner up UBS Warburg Ltd
for the third successive quarter, while HSBC continued to
occupy the remaining podium place.
Cazenove
showed why it deserves the title of most consistent stockbroking
performer this quarter, taking top slot in the other 'size'
table', that lists firms whose clients have made the most
profit this quarter. UBS Warburg took second place again,
ahead of third-placed Hoare Govett.
The other
consistent top perfomer this quarter was Brewin Dolphin
Securities, jumping two places in each 'growth' table to
take pole position in both as last quarter's top performer,
CSFB fell out of the rankings altogether. Second place in
the fastest growing clients stakes went to UBS Warburg,
up a creditable five places during the quarter to replace
this quarter's other big casualty, Deutsche Bank AG London.
Hoare Govett made a similar leap to third spot.
There
was more consistency in the placings in the other 'growth'
table, clients with the fastest increasing earnings. Teather
& Greenwood retained its second place behind Brewin
Dolphin, while Cazenove jumped one position to third.