In the annual broker survey from Consensus Research International, PwC was ranked first for its expertise in corporate finance advice scoring 47% of the vote.
KPMG followed second with 35%, Arthur Andersen and Ernst & Young were joint third on 15% with Deloitte & Touche trailing on 10%.
Accountancy firms were included for the first time in the survey’s 16-year history indicating the sector’s growth in corporate finance advice.
‘As in many sectors, lines in what were once regarded as very separate markets are blurring,’ said Clive Brand, director of Consensus.
‘But this research is by no means conclusive – we can’t tell, for example, if accountancy firms are impinging on the territory of securities houses.’
But Hugh Brown partner at PWC said corporate finance advice was a major growth area and the survey confirmed that the company as an alternative to traditional investment banks.
‘Our real goal of course is to be ranked among the merchant banks and progressively displace the middle-tier banks who, we believe, do not offer the same global reach and industry credentials,’ he said.
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