Deutsche Bank's mandate win for the €630m ($630m) convertible bond from France's Alcatel, traditionally close to SG, has allowed the German bank to overtake its French rival at the top of the European equity-linked league table.

Deutsche is in number one position raising €3.4bn, giving it a 13.7% market share, according to Dealogic, the investment banking research firm. SG, the investment banking arm of Société Générale, is just behind having raised €3.2bn.