UK stockbroker Numis has landed its first ever FTSE 100-listed corporate broking client, muscling in on a market traditionally dominated by bulge bracket global investment banks.

The small and medium-cap specialist, founded in the early 1990s by Oliver Hemsley, has been appointed joint broker to investment fund Alliance Trust alongside incumbent JP Morgan Cazenove. Alliance Trust has a market capitalisation of £2.1bn (€2.5bn) and net assets of £2.5bn.