Windfalls expected as £1bn Cazenove takeover deal revealed

Cazenove, the 190-year-old FTSE firm, today unveiled a takeover by JP Morgan in a £1bn (€1.1bn) deal that will trigger windfalls for current and former staff.

Nearly five years after creating its JP Morgan Cazenove joint venture, the US investment bank is buying the 50% of Cazenove it does not currently own.