JPMorgan Cazenove stays at top of broking league table

FEARS Cazenove would bleed clients after JPMorgan bought out the remainder of the firm were demolished as it stayed at the top of the broking league table yesterday.

JPMorgan Cazenove won nine clients in the past three months, according to data provider Hemscott, putting it in pole position with 253 contracts. The blue-blooded institution stole ITV from UBS and also looks after FTSE 100 companies including high street bank Barclays.

The figures will disappoint rival stockbrokers, who hoped to poach business from the outfit after JPMorgan took over the half of Cazenove it did not own in a £1bn deal last November. Industry insiders had speculated the Americanisation of a famously British organisation would put off some customers.

JPMorgan Cazenove also topped Hemscott’s list of financial advisers by adding 16 companies to its client roster. The group was followed by Seymour Pierce, Arbuthnot Securities, Numis Securities and Cenkos Securities.

KPMG held onto first place in the table of auditors, while Financial Dynamics strengthened its lead over other City public relations firms.

Slaughter and May held onto the top spot among corporate law advisers.