EXHIBIT 23.2



                                                    Exhibit 23.2


 
                  CONSENT OF INDEPENDENT AUDITORS 
 
 
 
 
 
The Board of Directors 
Alex. Brown Incorporated: 
 
 
 
 
We consent to the incorporation by reference in this Registration
Statement on Form S-8 of our reports on the financial statements
and schedules included in the Annual Report on Form 10-K of Alex.
Brown Incorporated for the year ended December 31, 1993. 
 
 
 
 
 
                               S/ KPMG PEAT MARWICK 
 
 
 
 
Baltimore, Maryland 
May 16, 1994