Financial News 100 most influential people 2006

Big numbers usually decide the battle for bragging rights in the European securities industry. Those with the most assets, the highest profits or the biggest bonus lay claim to being the best. The Financial News 100 is an attempt to take a different tack and rank the most influential individuals in the capital markets. The problem is, influence is difficult to gauge and even harder to quantify. Compiling the ranking is therefore more of an art than a science.

Over the past three months, the Financial News editorial team has been canvassing the opinions of those in the market to compile a list of contenders. As well as the 100 names featured last year, a further 200 were considered for the ranking.

Assessing the relative influence of an asset management company chief executive, a capital markets banker or a buyout investor is difficult. We gave each candidate a score out of 100. Their influence on each of the debt, equity and mergers and acquisitions markets was scored out of 20 with a further 20 points on offer for leadership within their industry sector and 20 for performance over the past year. A committee of Financial News editorial staff voted in the event of a tie. A poll on Financial News Online helped decide the positions of the top five. To qualify, individuals had to be based in Europe. Finance ministers and central bankers were not considered.

There was plenty of change from last year's ranking. This year's FN100 features 27 new entrants, including two in the top 10. Michael Sherwood, co-chief executive of Goldman Sachs International, clings on to the number one spot despite a strong challenge from Anshu Jain, Deutsche Bank's head of global markets.

Generally, investment bankers and private equity investors have risen up the ranking, reflecting a year of robust activity in capital markets, mergers and acquisitions and leveraged buyouts. Hedge fund managers fared less well, although Stanley Fink, chief executive of Man Group, rose 28 places to claim a spot in the top five.

We do not claim the ranking is definitive but it should certainly be thought provoking. Feel free to let us know if you think we have got it wrong - or if you feel you have been overlooked or hard done by.

After a benign few years for capital markets, the next 12 months look set to be much tougher. Those listed here will play a pivotal role in shaping the response of institutions, individuals and markets to more challenging conditions.

James Rutter & Ben Wright, business publishing, Financial News