Numis beats out JP Morgan as City's stockbroker of choice
JP Morgan Cazenove had lost its long-held standing as London's most popular corporate stockbroker to rival Numis Securities in the latest corporate advisers ranking guide.
After the loss of four clients since May took its client count down to 189, Numis, however, picked up eight new small cap clients bring its client list to 195, the survey from Crowe Clark Whitehill found, and marked the first time JP Morgan was not the leading City firm since the collection of the rankings began 13 years ago.
A silver lining for JP Morgan was that it regained the title of preferred broker to the FTSE 100 from Bank of America Merrill Lynch (BAML) after just twelve months as the latter lost Worldpay as a client to JP Morgan which also claimed G4S after a reshuffle of the FTSE.
FinnCap held the most AIM-listed clients in the third quarter, but many of these are on the small side and Numis' clients added up to the largest average market share of AIM clients.
Financial adviser rankings also saw FinnCap take the top spot with Numis remaining in second, and Cenkos Securities sliding up into third place.
BAML had the most FTSE 100 clients as both adviser and broker, while JP Morgan claimed the majority of the FTSE 250.
In the City's law firm rankings, Slaughter and May were toppled by Herbert Smith Freehills.
Despite failing to be the go-to law firm for the first time in nine years, Slaughter and May did hold on the most FTSE 100 clients with 33.