Barclays claims top spot in investment banking league

27 December 2012

Barclays has claimed the top spot in a UK investment banking league table compiled by Dealogic, with the financier boasting revenues of $297 million (£184 million).

This profit has come as a result of the bank providing numerous financial services - including advice on takeovers and bond underwriting - to firms across Britain, the Daily Telegraph reports.

Having stood in third position in 2011, Barclays has climbed ahead of major financiers such as JP Morgan and Goldman Sachs, recording the highest wallet share in the process.

In the global investment banking standings, however, the lender finished in the same spot as last year, when it came in eighth position.

It is believed that Barclays has now been advised to follow the approach taken by UBS - a bank that has made 10,000 job cuts and scaled down the fixed-income part of its investment banking processes, experiencing a 20 per cent pop in its share price as a result.

By Asim Shah

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