woody87
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#1
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#1
Listed below are the top equities teams in Thomson Extel rankings for 2008.

Overall House:
1 - UBS
2 - ML
3 - Citi
4 - SocGen
5 - DB
6 - Credit Suisse
7 - Morgan Stanley
8 - JPM
9 - Exane BNP
10 - Cheuvreux
11 - Dredner Kleinwort
12 - Goldman Sachs
13 - Lehman Bros
14 - Abn Amro
15 - HSBC

For specifically equity research:
1 - UBS
2 - ML
3 - Citi
4 - Soc Gen
5 - Credit Suisse
6 - Morgan Stanley
7 - DB
8 - JPM
9 - Exane
10 - DKW
11 - Lehman
12 - Cheuvreux
13 - Goldman Sachs
14 - HSBC
15 - ABN Amro

I have the top teams for trading, sales, derivatives and by sector should anyone want to know, let me know if you do.
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£££
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#2
(Original post by woody87)
Listed below are the top equities teams in Thomson Extel rankings for 2008.

Overall House:
1 - UBS
2 - ML
3 - Citi
4 - SocGen
5 - DB
6 - Credit Suisse
7 - Morgan Stanley
8 - JPM
9 - Exane BNP
10 - Cheuvreux
11 - Dredner Kleinwort
12 - Goldman Sachs
13 - Lehman Bros
14 - Abn Amro
15 - HSBC

For specifically equity research:
1 - UBS
2 - ML
3 - Citi
4 - Soc Gen
5 - Credit Suisse
6 - Morgan Stanley
7 - DB
8 - JPM
9 - Exane
10 - DKW
11 - Lehman
12 - Cheuvreux
13 - Goldman Sachs
14 - HSBC
15 - ABN Amro

I have the top teams for trading, sales, derivatives and by sector should anyone want to know, let me know if you do.
I would be grateful for sales, trading, derivatives if you have it for the fixed income side.

Thanks
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PortfolioManager
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#3


All I can say is that such ranking systems are so flawed.
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woody87
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#4
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#4
I'm not agreeing/disagreeing with the rankings systems, I'm just putting the information out there to users of this forum who may not have access to the detailed breakdowns.

Equity Sales
1 - UBS
2 - Cheuvreux
3 - ML
4- Citi
5 - DB
6 - CS
7 - Exane BNP
8 - Morgan Stanley
9 - SocGen
10 - Lehman Bros
11 - Goldman Sachs
12 - Abn Amro
13 - JPM
14 - Fortis
15 - Landsbanki Kepler

Equity trading/execution

1 - UBS
2 - ML
3 - Citi
4 - CS
5 - Goldman Sachs
6 - Morgan Stanley
7 - DB
8 - Natixis
9 - JPM
10 - Lehman Bros
11 - Soc Gen
12 - Cheuvreux
13 - Exane BNP
14 - Landsbanki Kepler
15 - HSBC

Equity Derivatives

1 - Exane
2 - ML
3 - SocGen
4 - UBS
5 - Goldman Sachs
6 - DB
7 - BNP
8 - JPM
9 - Lehman Bros
10 - Morgan Stanley
11 - BarCap
12 - Citi
13 - Credit Suisse
14 - Commerzbank
15 - Calyon.

Top sector teams were:
1 - SocGen Global Strategy (Quite simply the most interesting research on the stockmarket that I have personally read, anyone who criticises the CAPM whilst referencing Monty Python or advises clients to have more sex to increase performance is number one in my eyes!)
2 - HSBC - Telcos
3 - ML Banks
4 - Morgan Stanley - Pan Euro Strategy
5 - ML Luxury Goods

Quite interesting rankings, lot of the smallers brokerages beginning to feature. Number one overall analyst was from Sanford Bernstein.
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woody87
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Report Thread starter 11 years ago
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(Original post by £££)
I would be grateful for sales, trading, derivatives if you have it for the fixed income side.

Thanks
Survey is equities only.
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PortfolioManager
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#6
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Yeh I know, but these rankings have to be takeny with a pinch of salt. I used to work in II and there were many vulnerabilities and flaws with sell side rankings as well as buy-side.
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woody87
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Yes, having read some of the research coming out of these places, it often adds little more than the RNS release on a company does. Looked into the methodology of this a bit, seems that the buy-side clients with the most under management getting a larger proportion of the vote, so if they like one broker in particular then it may be skewed!
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rboogie
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#8
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I got ranked this year, that was nice.
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Dawhizzy
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#9
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(Original post by rboogie)
I got ranked this year, that was nice.
I don't see Redburn on the charts?!
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rboogie
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I think we are 18th or 22nd as a company depending on what list you look at.
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woody87
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#11
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#11
I only put up the top 15 to stop the lists from being stupidly long, each overall list goes to 25 houses. Redburn was 25th for Research overall, and 22nd on basis for commissions paid for research.

Redburn were quite highly rated in non-food retail, food retail, metals, medical services, luxury goods, leisure and many others. Reason for UBS, ML and Citi being top of the pile is the sheer amount of stocks they have under coverage in each sector and can thus derive votes from, as opposed to niche players who may add a lot more value to clients on a smaller amount of stocks.
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rboogie
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#12
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I think we were 18th for hedge funds, and commissions paid is I think the only one that matters, otherwise GLG has the same voting weight as some spivvy asset management fund in Philadelphia. (Of course I would say that because we are ranked higher on that list, but I truly think commissions paid is a better indication)

You're right about the coverage. We are ranked highly in the sectors we are in. As we expand, the coverage gap will narrow, but the list will be ultimately flawed against our favour. I do believe this is the first time we are in the top 25. I think we were 97th two years ago according to someone who knows the full list.
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uthinkilltellu
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#13
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why is jpm, lb, GS so low in equities?

also, with regards to GS - for Equity Derivatives and Equity trading/executionits ranked 5th, and for Equity Sales its 11th. So, why is it ranked 12th overall? also, what are the criteria for their rankings? P/L? client satisfaction? no. of executed deals? volume?
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woody87
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#14
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Client votes on a service and commission basis, without seeing the entire survey the rankings may not make sense. Think clients vote on overall equity house as a category.

With regards to JPM, their ER is not the best product on the market. In other polls amongst hedge funds GS does come top, especially in America, they are known for their conviction buy and sell lists. GS is known for its M&A and prop desks after all, not its sales and research, none of their individual analysts were near the top in any of the sectors that matter.
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uthinkilltellu
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#15
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even though the tables are based on quite a subjective data, its still good stuff woody87, well done. Do you have(know) 2007 data? for comparison reasons. its just i'm thinking of interning in equity sales next year and i was looking for the best equity sales companies and how they've changed over the years.
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woody87
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I have the 2007 data, given it will be of little interest to everyone else in this read, drop me a PM with the specifics you want.
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wazzup
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y is gs so low in equities?
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rboogie
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#18
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GS is more of a hedge fund/corporate finance shop. Not really interested in equities for some reason, partly because they have cumbersome compliance as well as the fact that corporate finance fees are more important to them. As a result, they have not retained much talent, and thus are weak in this area.

The Goldman commodity analyst told everyone to sell Oil at $95. They just don't have the quality in their analysts that they do have in corp fin/trading.
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Speed-Charm-Color
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#19
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(Original post by rboogie)
GS is more of a hedge fund/corporate finance shop. Not really interested in equities for some reason, partly because they have cumbersome compliance as well as the fact that corporate finance fees are more important to them. As a result, they have not retained much talent, and thus are weak in this area.

The Goldman commodity analyst told everyone to sell Oil at $95. They just don't have the quality in their analysts that they do have in corp fin/trading.
Equity trading commisions accounted for more revenue in 2007 than M&A!!
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marinemike
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#20
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Hi,

I'm trying to compile a list of boutique sized-research oriented outfits to which I can apply. I registered with Extel a while back to browse around, and put together a list of about 20 (For example "KBC Peel Hunt" and others which I would never discover via google alone).

If memory serves, the only extel results I was permitted to view for free were "Top 15" or "Top 3" etc etc - nothing completely comprehensive. -Typically- the website is currently not working so I can't verify that I haven't in fact missed a trick here.

At the risk of someone shouting at me to do my own research, does anyone have a clue as to where I might find a more complete and free list on the web? Cheers.
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