JP Morgan Cazenove to split vice-chairman relationships

JPMorgan Cazenove, the UK investment bank, has opted not to replace one of its top dealmakers after he quit as vice-chairman after 29 years with the bank.

John Paynter is expected to leave the bank, created in November 2004 from a merger of the UK investment banking businesses of JP Morgan and stockbroker Cazenove, in July.

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