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JPMorgan lands Cazenove in US$1.7 billion buyout

LONDON -- JPMorgan Chase & Co. is beefing up its European investment bank by buying the half of Cazenove it does not already own in a deal valuing the revered 190-year old UK stockbroker at 2 billion pounds (US$3.4 billion).

The transaction, which will land windfalls for dozens of top London dealmakers, will see David Mayhew remain chairman of JPMorgan Cazenove and Chief Executive Naguib Kheraj preside over the integration in a short-term role.

 

 

 

 

 

 

 

 

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