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The 9th Annual Equity Lending Survey

The results of the isf equity lending survey, the largest survey in securities finance, are here.

INTRODUCTION METHODOLOGY RESULTS CONCLUSIONS
 
INTRODUCTION
Worthy of particular mention are lender Investors Bank & Trust, which tops a key table for the first time in the survey's history, and borrower UBS which is finally breaking the duopoly of Morgan Stanley and Goldman Sachs.
 
METHODOLOGY
Click here to view methodology
 
RESULTS
There are some happy offices in Boston, Chicago and Zurich.  Perhaps less so in London and New York.
 
Borrowers rating lender
WEIGHTED

2005
Bank
Score
1
Investors Bank & Trust  
296.33
2
Northern Trust About Northern Trust Contact Northern Trust  
266.50
3
Boston Global Advisors  
265.84
4
Credit Suisse Group  
262.20
5
Bank of Ireland Securities Services    
257.27
6
Robeco    
246.88
7
Brown Brothers Harriman  
246.06
8
State Street  
245.61
9
Barclays Global Investors  
243.37
10
HSBC  
236.59
 
Borrowers rating lender
UNWEIGHTED

2005
Bank
Score
1
Northern Trust About Northern Trust Contact Northern Trust  
82.54
2
State Street  
81.03
3
Credit Suisse Group  
79.66
4
Robeco  
76.75
5
HSBC  
75.08
6
Barclays Global Investors  
74.35
7
Boston Global Advisors  
73.38
8
CIBC Mellon About CIBC Mellon Contact CIBC Mellon View the web site for CIBC Mellon
72.73
9
UBS AG  
72.52
10
Bank of Ireland Securities Services    
72.50
 
Lenders rating borrower
WEIGHTED

2005
Bank
Score
1
UBS AG  
160.69
2
JPMorgan  
160.14
3
Morgan Stanley  
153.41
4
Goldman Sachs  
149.69
5
Nomura  
146.28
6
Deutsche Bank  
143.19
7
Citi  
139.92
8
BNP Paribas About BNP Paribas Contact BNP Paribas View the web site for BNP Paribas
138.96
9
Bank of America  
138.86
10
Merrill Lynch  
137.26
 
Lenders rating borrower
UNWEIGHTED

2005
Bank
Score
1
Morgan Stanley  
83.81
2
Goldman Sachs  
79.79
3
UBS AG  
76.79
4
Deutsche Bank  
73.85
5
Lehman Brothers  
72.67
6
Citi  
69.85
7
Merrill Lynch  
68.40
8
Barclays Capital  
67.80
9
Credit Suisse Group  
67.26
10
Dresdner  
66.29
 
 
CONCLUSIONS

The full survey write-up includes additional comment, charts based on various weighted scores and also 28 detailed charts depicting results across the geographical regions and scores for each individual service category.  There is also a special recognition award for the individual who has contributed the most to securities finance over the past 15 years.

As a taster of the full survey write-up, can you guess which banks the following quotes describe?
"Relationships not a priority"
"Poor feeds in connectivity"
"Coupon payments often late"
"Asia desk works in silo"
"No global management"

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