The firm gained two FTSE 100 clients over the quarter running from 6 Feb to 9 May, taking its tally to 21 with a market cap of £588bn.
The firm’s position was bolstered through the listing of
Linklaters global corporate head David Barnes told Legal Week: “The largest amount of commercial activity we do is often for large international companies in the financial services, mining, energy and utilities sectors, which plays to our strengths and we expect to do well in those sectors.”
Despite the increase the firm remains in second place by total number of FTSE 100 clients behind Slaughter and May, which had 25 clients listed for the quarter, a drop of one on the previous three-month period.
Allen & Overy (A&O) jumped two spots into third place by FTSE 100 clients behind Linklaters and Slaughters while Freshfields Bruckhaus Deringer and Herbert Smith make up the rest of the top five.
Overall Slaughters dominated the rankings by listed client numbers, coming first for FTSE 250 clients as well as for FTSE 100 listed clients. The magic circle firm also topped the FTSE 250 rankings by market cap, ahead of Ashurst, Linklaters, Herbert Smith and Freshfields in the top five.
Other notable changes in the tables include Herbert Smith, which moved from sixth place to fourth by number of FTSE 250 clients and Pinsent Masons, which moved from eight place to sixth in the same table. Meanwhile Berwin Leighton Paisner and Addleshaw Goddard entered the rankings for FTSE 250 clients by market cap.
Commenting on the deal environment, A&O corporate partner Mark Wippell said: “There is a fair amount of activity but it is quiet on the transaction front. The credit crunch has affected the ability for private equity houses to do deals. People are more cautious in this environment.”
