Cazenove 'could sell stake to bank'

The UK’s oldest independent stockbroker was today being linked to a deal involving the sale of a 50% stake to US bank JP Morgan Chase.

Cazenove, which acts as stockbroker to the Queen, is said to have agreed to sell the holding for £100m (€144.8m) in a move that allows it to retain its independence but gain access to JP Morgan’s product range and network.