Cazenove - JP Morgan Merger Terms Finalised
01/21/2010
The 186 year old stock broking firm, Cazenove is all set to undergo massive changes as the firm readies to merge some divisions with competitor JP Morgan. The merger will also involve a change of location for Cazenove’s offices.
Cazenove is stockbroker to social celebrities like Her Highness the Queen and David Beckham. The firm had earlier been functioning out of Tokenhouse Yard near the Bank of England before it moved to premises within the city in 2003. From this location at 20 Moorgate, Cazenove will now move to 312,000 sq ft of desk space in 10 Aldermanbury.
The company has a history being employee friendly and known to protect its employees. In fact when they moved they even retained the same door man even though they have moved many times during the long history of existence.
The firm has been functioning as a joint venture with a
The merger is expected to mean a big change for employees who are more used to the traditional work environment, which always prevailed at Cazenove. Sources from within the company are not sure the merger will sit well with employees. While some employees may be asked to leave, Cazenove will protect most of its staff. It is believed that the equities division of Cazenove will henceforth be called JP Morgan Cazenove and will be managed by Alan Carruthers.
JP Morgan has recently been in the news with rumors that its new headquarters project is being shelved for now in line with its plans to reduce investment in office space in
