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Cazenove, the London-based stockbroker, is to be acquired by JP Morgan of the US in a £1bn deal, following the sale of the remaining 50% stake.
Cazenove is to relocate its London head office from Tokenhouse Yard to Moorgate, in order to combine its 850 banking and investment management staff onto one site.
Cazenove is planning to abandon its partnership structure and become a public company, in order to raise funds for the expansion of its stockbroking business into continental Europe.
Cazenove is to launch a £250m technology fund called Cazenove New Europe Access Fund, to invest in new unquoted media and telecoms companies.