Austria
Austria is one of Europe's smallest equity markets and few brokers cover it regularly. The choice available to fund managers will diminish further with the merger of Creditanstalt and InvestmentBank Austria.
Dresdner Kleinwort Benson has continued the steady improvement of its research to become the best broker for both research and execution in Austria, displacing SBC Warburg. One fund manager praises Dresdner for its thorough research and good sales. "They have made a few sharp calls," he says. "And their dealing is good."
| Austria | |||
| Rank | Firm | % | |
| 1997 | 1996 | ||
| Research | |||
| 1 | 2 | Dresdner Kleinwort Benson | 23.7 |
| 2 | 5 | InvestmentBank Austria* | 18 |
| 3 | 1 | SBC Warburg | 15.1 |
| 4 | 4 | Creditanstalt* | 12.2 |
| 5 | 3 | HSBC James Capel | 10.1 |
| Execution | |||
| 1 | 2 | Dresdner Kleinwort Benson | 14.3 |