Wragge Lawrence Graham has shot to the top of the latest AIM rankings after it gained 20 clients with the addition of Gowlings' London team ahead of a tie-up between the two firms in January.

The firm tied with Pinsent Masons for the most clients in the three months to 7 October.

The rankings, compiled by finance data provider Adviser Rankings using Morningstar data, show Wragges and Pinsent Masons now advise 59 clients each with Carey Olsen and Memery Crystal in a distant joint third place with 41 clients each.

The rankings award a single point for each client relationship, regardless of whether it is a sole or joint appointment.

Other big winners include DLA Piper, which added four new clients to take fifth place in the table, and Travers Smith and Charles Russell Speechly, which added two clients apiece during the quarter.

We have seen a number of dual-track processes go the sale route rather than IPO

The Gowlings team has particular strength in mining. This is reflected in the sector rankings, which show that Wragges has climbed to the top of the basic materials sector with 16 clients, replacing Memery Crystal in first place.

Sunil Kakkad, Wragges head of corporate, said: "We are very pleased with the new rankings, but what is more heartening is when you look beyond the total number of clients we continue to retain our lead position in terms of AIM 100 clients by market capitalisation."

Wragges came top by client market capitalisation, advising clients with a value of