The uniquely British institution of the corporate broker is under threat, threatening to leave CFOs and finance directors without an independent source of advice, according to Ernst & Young.
The possible flotation of Lazards and the joint venture of Cazenove with JPMorgan alter the status of two of the biggest corporate brokers in the UK – Cazenove currently advises 41 and Lazards advises three of the FTSE 100.
Although many of the large banks do offer brokerage services to companies in the UK, including Merrill Lynch, UBS and ABN Amro (under the title Hoare Govett), many value the independence that houses such as Cazenove and Lazards offer.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
