BROKER and financial services group Collins Stewart has picked up its first FTSE 100 client.
Randgold Resources, an Africa-focused gold mining and exploration company with a market capitalisation of £5.5bn, has hired Collins Stewart as its joint corporate broker, along with Bank of America Merrill Lynch.
HSBC, which has advised Randgold since before it listed on the London Stock Exchange in 1997, remains the group’s financial adviser.
While the FTSE 100 has traditionally been served by global investment banks, smaller players are starting to win accounts. Earlier this year fellow small-cap broker Numis was taken on as joint corporate broker for FTSE 100-listed Alliance Trust.