May 29, 2017

Barclays wins more business in corporate broking

The investment bank has notched up 21 FTSE 100 clients, the highest for the group since it began expanding into corporate broking in 2010, according to quarterly rankings. Alisdair Gayne, head of corporate broking at Barclays, said "If you look at the banks with big corporate broking businesses, they tend to have a very good share in equity capital market transactions, they tend to have a very good share in" - transactions which produce hefty advisory fees. In terms of total stock market clients, Barclays ranks a lowly 23rd, while blue-blooded broker JPMorgan Cazenove continues to dominate, with 193 corporates. Barclays originally bought its corporate brokerage from Lehman Brothers, the collapsed investment bank, in a $1.75bn deal at the height of the 2008 financial crisis. Some US banks cut back their corporate broker lists during the financial crisis while more companies reviewed their broker relationship post-credit crunch, added Mr Gayne, "And we certainly took advantage of that".

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