Bank of America Merrill Lynch has overtaken UBS to rank as the leading pan-European brokerage firm for equity and equity-linked research in the Thomson Reuters Extel rankings, putting an end to a 12-year run for the Swiss bank.

The results of the 40th annual Thomson Reuters Extel Survey, which took in the views of over of 15,000 buyside, brokerage and corporate professionals, were announced this afternoon at a ceremony in London's Guildhall.