Barclays Capital notches up a new broking client

 
David Hellier
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BARCLAYS Capital yesterday won another brokership, continuing its strategy of expanding its UK equities business.

BarCap will now be joint broker to Yule Catto, the speciality chemicals manufacturer, alongside Collins Stewart.

The investment bank has been pushing its broking business in an attempt to forge relationships with big UK clients and has already won mandates from the likes of the new British Airways owner IAG, Resolution and 3i.

It is understood that Yule Catto decided on the change after BarCap advised the group on its recent £376m acquisition of Polymer Latex. Its previous joint broker was RBS, which no longer has a dedicated analyst covering the speciality chemicals sector.

BarCap has been aggressively chasing new mandates, as has Goldman Sachs.

Goldman, whose team was boosted recently by the appointment of Phil Shelley from UBS, has recently won mandates at Balfour Beatty and Autonomy Group. Goldman’s other recent account wins include Arm, Man Group and IHG.