Cenkos Securities and FinnCap have completed their tie-up, rebranding as Cavendish, in a high-profile merger between City corporate brokers as consolidation is expected to pick up pace in the under-pressure sector.

The newly-merged firm will bring together 200 bankers, traders and researchers under the new brand of Cavendish, the firms said in a 12 September statement announcing the completion of the deal that creates a new investment bank valued at £43m.