Travis Perkins, the UK building materials supplier, has dropped HSBC and hired Citi as its joint broker after an 18-month period of widespread broker reviews by UK companies.

The FTSE 250-listed group, which invited its existing brokers HSBC and Dresdner Kleinwort to re-pitch for the mandate along with other banks earlier this month, retained the German investment bank and appointed Citi as its other joint broker.

Citi ousts HSBC as building group's broker

Vivek Ahuja

HSBC

Travis Perkins

Deutsche Bank

Morgan Stanley

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