JP Morgan loses spot as FTSE 100’s top broker

JP Morgan Cazenove has fallen behind Bank of America Merrill Lynch in a ranking of top stockbrokers for FTSE 100 companies, according to research. Adviser Rankings, the firm that carried out the research, has ranked JP Morgan Cazenove as the broker for the most FTSE 100 firms since the research’s inception in 2005, but the brokerage has lost four clients in a year bringing its total to 30. Bank of America Merrill Lynch has added three clients to a total of 31 and grabbed top spot. However, JP Morgan Cavenove continues to dominate the overall stock market as adviser with the most clients, 198. Numis Securities and Panmure Gordon took second and third place, with 178 and 141, respectively. In the other stock markets within the London Stock Exchange, Finncap topped the alternative investment market while JP Morgan Cazenove was top of small-caps and the FTSE 250. Away from client numbers, UBS topped the table of FTSE 100 clients in terms of market capitalisation, with almost £500 billion (€655.4 billion). The firm moved up two places to take the top spot from Morgan Stanley, which has dropped to third since the last Adviser Rankings report. ©2016 funds europe

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