Tuesday 31 May 2016 1:50 pm

JP Morgan Cazenove loses its long-standing lead over Bank of America Merrill Lynch in FTSE 100 stockbroking stakes

JP Morgan Cazenove has lost its long-held position as the top stockbroker for FTSE 100 companies.

The bank's crown has been taken by Bank of America Merrill Lynch, new figures from Adviser Rankings show.

JP Morgan Cazenove has topped the FTSE 100 rankings every year since Adviser Rankings began compiling the list as part of its Corporate Advisers Rankings Guide in 2005. 

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But its 30 FTSE 100 clients, down from 33 in May last year, were not enough to see off Bank of America Merrill Lynch, which grew from 28 in 2015 to 31.

Stockbroker Number of FTSE 100 clients
Bank of America Merrill Lynch 31
JP Morgan Cazenove 30
Morgan Stanley 21
UBS 21
Barclays 20

However, JP Morgan Cazenove continued to dominate the overall stock market, advising 198 clients overall. Numis Securities and Panmure Gordon, with 178 and 141 clients respectively, were the next biggest overall.

Meanwhile, FinnCap topped the alternative investment market (Aim) with 102 clients. JP Morgan Cazenove leads in small cap and FTSE 250.

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Away from stockbroking, Adviser Rankings found:

  • Auditing was topped by KPMG overall, with 400 clients, and PwC in the FTSE 100, with 48 clients.
  • PR was led by FTI Consulting overall, with 169 clients, and Brunswick in the FTSE 100, with 26 clients.
  • Slaughter and May was the top law firm, both overall and in the FTSE 100.
  • Capita Asset Services was top of the registrars, with 831 clients, and Equiniti in the FTSE 100, with 47.
  • And FinnCap led the financial advisers, with 93 clients, and UBS in the FTSE 100, with 13.