2004
RANK FIRM SCORE HEADQUARTERS

1 Goldman Sachs 8.432 New York, NY

2 Morgan Stanley 7.901 New York, NY

3 Citigroup’s Global Corporate and Investment Bank 7.436 New York, NY

4 Lehman Brothers 6.993 New York, NY

5 The Blackstone Group 6.971 San Francisco, CA

6 Merrill Lynch 6.942 New York, NY

7 UBS Warburg 6.661 New York, NY*

8 Citigroup 6.609 New York, NY

9 J.P. Morgan Chase 6.578 New York, NY

10 Credit Suisse First Boston 6.574 New York, NY*

11 Deutsche Bank 6.510 New York, NY*

12 Lazard 6.457 New York, NY*

13 Bear Stearns 6.234 New York, NY

14 Bank of America 5.552 Charlotte, NC

15 Banc of America Securities 5.322 New York, NY

16 Rothschild 5.147 New York, NY*

17 Dresdner Kleinwort Wasserstein 5.027 New York, NY

18 HSBC Holdings plc 4.943 New York, NY*

19 Barclays Capital 4.756 New York, NY*

20 Thomas Weisel Partners 4.569 San Francisco, CA

21 Wachovia 4.507 Charlotte, NC

22 CIBC World Markets 4.442 New York, NY

23 Wells Fargo & Company 4.407 San Francisco, CA

24 ING Group 4.386 New York, NY

25 U.S. Bancorp Piper Jaffray 4.322 Minneapolis, MN