Bank of America Merrill Lynch moved to the top of the rankings for UK-issued equity deals this week after working as the sole underwriter on a £1bn-plus block trade of stock in consumer goods group Reckitt Benckiser – a deal led by three London-based bankers.

JAB Holdings mandated Bank of America Merrill Lynch to help sell £1.2bn worth of its 14.9% holding in Reckitt Benckiser. The sale was the largest equity deal in the UK consumer sector since 2008 and the first UK equity deal for the US bank since October last year.