Greenwich study ranks fixed-income dealers

Institutional investors JPMorgan Chase and Lehman Brothers are tops when it comes to fixed-income sales, research and trading, according to a study.
Deutsche Bank AG, Goldman Sachs Group Inc. and Bank of America Corp. rounded out the list of Greenwich Associates’ 2007 U.S. Fixed-Income Dealer Rankings.
Merrill Lynch & Co. Inc. and Credit Suisse Group were cited for increasing their market shares in rates products.
Morgan Stanley was credited with the strongest market share growth in credit products.
Bank of America’s market share expanded the most in securitized products.
Meanwhile, Lehman Brothers Holdings Inc. has built up the largest market share among the hedge fund segment, followed by Deutsche Bank and JPMorgan Chase & Co., which are tied for second place.
The report is based in interviews of roughly 1,300 institutional investors active in fixed-income trading conducted by the Greenwich, Conn.-based research company.
Investors were asked to name the dealers with whom they trade, to reveal how much of their trading business is allocated to each dealer, and to rate the service quality delivered by the dealers in a variety of categories.