Barclays cracks top five FTSE broker rankings

Michael Bow
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BARCLAYS broke into the top five FTSE 100 stockbroker rankings last month, overtaking Deutsche Bank, fresh figures released today show.

The British bank added two new blue chips to its roster of clients – supermarket giant Tesco and engineering firm Amec – to place it joint fifth in a list of the top brokers, ranked by the total number of FTSE 100 clients.

JP Morgan Cazenove retained its crown as number one broker to the FTSE 100 despite losing two clients, dropping from 36 clients to 34. UBS remained in second place, Bank of America Merrill Lynch (BofAML) was third, while Morgan Stanley came fourth in the poll.

Citi was in joint-fifth spot with Barclays, according to the list compiled by data provider Adviser Rankings, with 16 clients apiece.

Judged on the combined market cap of all its clients, UBS came out top of the FTSE 100 brokers, catering for firms with a combined size of £626bn. JP Morgan was ranked second, with firms worth a total of £553bn.

On the junior stock market, finnCap’s lead was dragged back by gains made by rivals Cenkos Securities, WH Ireland and N+1 Singer. Cenkos added four clients while finnCap lost one, narrowing the gap between the brokers.

WH Ireland added four clients and N+1 Singer gained five clients.

Despite generating little or no revenue for investment banks, broking services are offered in the hope of them leading on to larger transactions such as loan deals or M&A advisory work. However, Barclays’ move up the broking tables is not yet reflected in its advisory position, as it ranks at number 12 in the FTSE 100 financial advisers table with two clients, sharing the spot with Greenhill & Co.

Top of the tree was UBS with 22 FTSE 100 clients. BofAML was in second spot with 12 clients and JP Morgan third with 10 clients.

Ranked on market cap, UBS again came out on top but US investment bank Goldman Sachs ranked second, with eight FTSE 100 clients worth £245bn.

On the Alternative Investment Market, finnCap acted as financial adviser to the most clients, notching up 84 ahead of second placed Cenkos with 81 clients.