Barclays up to third in the FTSE 100 broking rankings

Barclays Eagle

Barclays has moved up to the top three stockbrokers for FTSE 100 companies in the City by client numbers, with JP Morgan Cazenove retaining its overall crown across London’s listed companies, according to new data.

Barclays now has 21 clients among London’s blue chip companies, with only Bank of America Merrill Lynch and JP Morgan Cazenove acting as broker for more, the data compiled by Adviser Rankings show.

JP Morgan Cazenove’s place at the top of the rankings across London’s stock market, with 194 clients, was secured by its continued dominant position in financial services.

Read more: JP Morgan Cazenove holds off Numis Securities as top City stockbroker

The US bank, which took over the blue-blooded Cazenove broker in 2009, acts as broker for 94 financial clients, far beyond the next-highest, Numis Securities.

The two firms also battle it out in the industrials sector, in which JP Morgan Cazenove this quarter overtook Numis to become the highest-ranking broker as it added three new clients.

However, across the ranking as a whole Numis has continued to challenge JP Morgan Cazenove, with 190 clients. Numis has added a net 12 clients over the past year despite its founder Oliver Helmsley handing on the reins last year. Meanwhile JP Morgan Cazenove had lost four up to 3 May this year.

Read more: Numis bosses confident of IPO pick-up despite market struggles hitting broker's profits

Panmure Gordon is the third most popular broker overall, with 116 clients. The august broking house was the subject of a takeover this year by a group led by former Barclays boss Bob Diamond.

Other movers in the rankings include Cenkos Securities, which moved up to fifth position thanks in part to the 75 Alternative Investment Market (Aim) firms it counts among clients, as well as gaining a FTSE 100 client.

Full story: Barclays up to third in the FTSE 100 broking rankings: City A.M.

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