Goodbody Stockbrokers tops 'Finance' survey

GOODBODY STOCKBROKERS last night won 10 of the 12 equity categories in the Finance Stockbroking Survey 2008.

GOODBODY STOCKBROKERS last night won 10 of the 12 equity categories in the Finance Stockbroking Survey 2008.

The company also led the way among individual stock-market analysts, topping the list in nine individual categories, one more than rival Merrion.

Davy, the State’s largest stockbroker, managed to prevail in only one category – for the best printed equity book. However, it was runner-up in a number of key categories and ranked second overall in equities as a result of nine second-place finishes.

The survey, organised by Finance magazine, attracted the heaviest voting in its 22-year history – with a 59 per cent increase in the number of institutions taking part. Almost one-third of respondents were hedge funds.

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Mutual funds, at 54.5 per cent, continue to be the dominant voice in the survey, followed by private banks and insurance and life companies.

Amid the celebration, however, are signs that 2009 promises little prospect of a return to the Celtic Tiger heyday for the stockbroking industry. Comments from respondents to the survey indicate that Ireland is a less significant focus of investor attention. “Ireland is becoming a much smaller part of our universe,” said one.

Away from equities, Bloxham swept the boards in bond trading, overtaking Davy. Unsurprisingly, reports addressing the ongoing financial crisis filled the top four spots in the research reports section. For his report on Irish Financials – A New Reality, Merrion’s Stephen Orsi was voted ahead of a Goodbody team, with Davy in third place. The leading equity sales trader was Merrion’s Laura Fitzpatrick, retaining the title she won last year. The best equity salesperson was Goodbody’s Rory Carton, who had not ranked in the category last year.

Dominic Coyle

Dominic Coyle

Dominic Coyle is Deputy Business Editor of The Irish Times