Source: www.breakingviews.com is Europe’s leading financial commentary service.
In the past two months, two of the UK’s biggest corporate brokers have suffered serious reverses. And this has led some to question whether the UK’s distinctive corporate broking system may finally be in decline.
HSBC recently dropped Cazenove as its broker in what the international bank claimed was a move to broaden its international shareholder base. And troubled insurer Royal & SunAlliance dumped Hoare Govett, from the team handling its rescue rights issue.
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