Corus, the Anglo-Dutch steelmaker, and Wellington Underwriting, a mid-cap insurance company, have both dropped Hoare Govett, the broking arm of ABN Amro, as their corporate broker.

Corus, which has a market value of £2.1bn (€3.1bn), has replaced Hoare Govett with Morgan Stanley, which will work alongside Corus' existing broker JP Morgan Cazenove.