Brokers bounce back but remain cautious

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Jonathan Keeling, chief executive of institutional stockbroker Arden Partners, said that after one of the most challenging years he can remember, the new financial year had started "satisfactorily".

"We saw a 31 per cent uplift in our equities division revenue against an 18 per cent rise in the FTSE all-share index over the same period. In the year to October corporate finance raised £72 million for clients. In the new year we have raised £111 million so far. But it is still very much rights issues and placings with no real sign that the IPO market is about to recover," he said.

Over at private-client broker Brewin Dolphin, in the 13 weeks to Christmas Day there was an 11.5 per cent rise in revenues and a 5.9 per cent increase in funds under management to £21.7 billion.

The executive chairman, Jamie Matheson, highlighted a 30 per cent year-on-year rise in fees from investment management as Brewin's wealthy clients sought to make their money work harder for them in a low interest rate market. Rensburg Sheppards, the fund manager, had a similar 21 per cent leap in fees and a 27 per cent rise in commissions in the three months which ended yesterday as it too benefited from the stock market rally up to Christmas. But with far less interest being earned on cash balances its total revenues were up 3.5 per cent to £28 million.

Arden also revealed that it is not all fat-cats in the City. Its 41 front-office staff shared just over £1 million in annual bonuses (that's one Goldman Sachs partner's bonus) giving them an average payout of just over £25,000 for the year.