James was the head of the Church in Jerusalem. And what evidence is there that Peter ranked below him? That's exactly the opposite of history.
And I think modern scholarship about Markan priority actually supports that. Mark writes Peter's teaching, and then Matthew or one of his disciples...who it will be remembered already had a collection of sayings (logia) of Christ...then adds the teaching of Peter in Mark's Gospel to his own testimony, thus producing what we know as the Gospel of Matthew.
I would ponder that again about using the word rank when all of the prophet and apostles are to one in mind with the Lord!