UK industrial group Cookson Group has reshuffled its corporate broking roster following a decision to spilt into two companies, handing an extra mandate to incumbent Bank of America Merrill Lynch and a new brief to UBS.

Cookson announced yesterday that it would split into two companies called Alent and Vesuvius: Alent will focus on performance material, producing parts for smart phones and computers; while Vesuvius will house engineered ceramics, used in global steel and foundry industries.