Cazenove’s top equities bankers are set to take leading jobs at JP Morgan, as the two banks prepare to combine their equities business for the first time. The move will form a considerable part of the £1bn (€1.1bn) buyout plans of the JP Morgan Cazenove joint venture.

Cazenove and JP Morgan have until now kept their cash equities business separate from the joint venture, JP Morgan Cazenove, with each firm running their own equity sales, trading and research operations. However, the decision has been taken to integrate the businesses following the buyout.