The chief executive of JPMorgan Cazenove is to step down next month as his short-term integration role comes to an end, the Financial Times reported in its Wednesday edition. Skip related content
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Naguib Kheraj took the helm of the 190-year-old UK stockbroker in October 2008, joining from UK bank Barclays.
His departure is one of several expected as the U.S. bank takes steps to integrate parts of the Cazenove franchise that had not already been merged in an earlier venture, the paper said.
JPMorgan, the second-largest U.S. bank by assets, paid 1 billion pounds for the half of Cazenove that it did not already own last November.
No one at JPMorgan Cazenove could immediately be reached for comment.
(Reporting by Caroline Copley; Editing by Gary Hill)
NEW YORK (Reuters) - Barclays Capital told its research analysts in a memo this week not to use the relatively new but increasingly common "PIIGS" acronym to describe five European nations with strained fiscal conditions, a source at the bank told Reuters on Friday.
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