Barclays Capital has landed a role advising the London Stock Exchange on mergers and acquisitions, replacing the exchange's long-standing adviser Merrill Lynch and enabling the UK investment bank to lay claim to a place at the top table of M&A advisers to European companies.

Morgan Stanley has also won a role to provide M&A advice to the LSE, according to a spokesman for the exchange. JPMorgan Cazenove and Nomura Holdings will continue as the LSE's corporate brokers.