Cazenove to quit Square Mile for the first time in 190 years
City broker Cazenove's historic ties with the Square Mile were stretched to breaking point today after its owner — JPMorgan — decided to move its European investment banking headquarters to Canary Wharf.
The blue-blooded firm, which is reputed to be the Queen's stockbroker, will move with the rest of the bank's 8000 staff to 25 Bank Street in London's Docklands — the former home of collapsed Lehman Brothers, in 2012.
The relocation will mark the end of an era for Cazenove, which traces its history back to 1823 — although it might not vanish from the Square Mile altogether as sources close to the bank said the firm was likely to retain space in the City for client meetings.
Cazenove's butlers greeted its eminent clients for years at Tokenhouse Yard near the Bank of England until the bank moved to new offices at 20 Moorgate in 2003.
A year later, when JPMorgan bought a 50% stake in the stockbroker, it moved again to Aldermanbury Square, one of the US bank's four investment banking bases in the capital.
This January JPMorgan bought the rest of the business in a £1 billion deal and its UK investment banking, cash equities and equity research businesses now operate under the JPMorgan Cazenove name.
