Cazenove: The History and Growth of a Leading Stock Broker

Cazenove has a rich history that dates back to 1800, when it was founded by William Cazenove. The firm started as a small merchant bank and has since grown into a leading stock broker.

Cazenove's early success was driven by its expertise in the sugar trade, which it dominated in the 19th century. This laid the foundation for the firm's expansion into other areas of finance.

In the 20th century, Cazenove continued to grow and evolve, becoming a major player in the London stock market. The firm's reputation for integrity and expertise made it a trusted partner for investors.

Today, Cazenove is part of the Royal Bank of Scotland group, but it still maintains its independence and commitment to providing exceptional service to its clients.

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Cazenove's roots date back to the early Huguenot financiers who left France for Geneva in 1685.

The Cazenove family was among those who left Geneva for the UK in search of wealth and freedom in the City of London.

Philip Cazenove joined his brother-in-law's business in 1819 and the firm of Cazenove started in 1823.

Cazenove formed a new partnership with his son and nephew after branching out on his own in 1854.

By the 1930s, Cazenove had become one of the leading stockbroking partnerships in London.

The company played a major part as advisor in most of Margaret Thatcher's UK Government's privatisation issues in the 1980s.

Cazenove and JPMorgan Chase announced an agreement in November 2004 that JP Morgan would buy a 50% stake in Cazenove.

The combined business was called J.P. Morgan Cazenove and had an option to buy the remaining 50% stake within five years.

In 2009, JPMorgan completed the purchase for £1 billion.

J.P. Morgan Cazenove completed the sale of its Asian business, Cazenove Asia, to Standard Chartered in Hong Kong that year.

Cazenove was put up for sale in an effort to abandon its long-held ambition to float on the stock market.

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The firm's shares, traded only internally, stood at 350p on Friday, valuing Cazenove at just over £760m.

Cazenove's chairman, David Mayhew, holds 3.5m shares worth £12.4m, while chief executive Robert Pickering owns 2.6m shares worth £9.2m.

JP Morgan completed the purchase of the remaining 50% stake in Cazenove for £1 billion in 2009.

This deal triggered windfalls for current and former staff, with nearly 1,500 Cazenove shareholders set to receive payments.

Cazenove is a prominent stock broker with a rich history dating back to 1827. It was founded by William Henry Cazenove, a British merchant and financier.

The company has undergone several name changes, becoming Cazenove & Co. in 1892 and later Cazenove Group in 2008. This name change reflects its evolution into a global investment bank.

Cazenove has been a part of several significant mergers, including its acquisition by JPMorgan Chase in 2018, which further solidified its position in the financial industry.

In 2000, Cazenove & Co announced its intention to dissolve the partnership, incorporate, and then float on the London Stock Exchange.

The company had 80 partners with unlimited liability at the time of the announcement.

This significant change was a major step for the company, which had previously operated as a partnership.

The incorporation process allowed the company to raise funds from institutional investors.

Cazenove & Co's ambition to list publicly was ultimately hampered by poor market conditions in the UK in 2001 and 2002.

The company was able to open offices in Frankfurt, Paris, and Beijing as part of its post-float restructuring efforts.

Its fund management business also underwent significant restructuring during this period.

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Cazenove & Co. has a significant global presence through its numerous subsidiaries.

The company's principal subsidiaries include Cazenove & Co. (Singapore) PTE. Limited, which operates in Singapore, and Cazenove & Co. Ltd, which is based in the UK.

Cazenove AG (Germany) serves as a subsidiary in Germany, while Cazenove Asia Limited (Hong Kong) operates in Hong Kong.

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Cazenove Capital is a key subsidiary, and Cazenove Fund Management Limited is responsible for managing funds.

Cazenove Incorporated (USA) is the company's US-based subsidiary, and Cazenove International Holdings Limited oversees the group's international operations.

Cazenove Investment Fund Management Limited manages investments, and Cazenove Service Company provides support services.

Cazenove South Africa (PTY) Limited operates in South Africa, and JPMorgan Cazenove Holdings is the parent company of the group.

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Cazenove was a significant player in the financial services industry, with a turnover of £251.4m ($452m) in 2003/04.

The company was composed of several key businesses, including JPMorgan Cazenove, Cazenove Capital Management, Cazenove Private Equity, and Cazenove Asia Limited.

JPMorgan Cazenove was a joint venture established in 2004, which combined Cazenove's investment banking operations with JPMorgan's UK investment banking business.

Cazenove Capital Management had £7.6bn in assets under management, and this business continued independently before being acquired by Schroders in July 2013.

Here's a brief overview of the key businesses that made up Cazenove:

Cazenove had a significant presence in the financial services industry, with a turnover of £251.4m in 2003/04.

The company was composed of several key businesses, including JPMorgan Cazenove, which was a joint venture established in 2004 that combined Cazenove's investment banking operations with JPMorgan's UK investment banking business.

Cazenove Capital Management was another notable business, with £7.6bn in assets under management at the time.

This business continued independently before being acquired by Schroders in July 2013.

Cazenove Asia Limited was the regional office of Cazenove in the Asia-Pacific region, with offices in Hong Kong, Shanghai, Beijing, and Singapore.

Here's a list of some of the key subsidiaries of Cazenove:

JPMorgan fully acquired JPMorgan Cazenove in 2009, marking a significant change for the business.

In the investment world, there are several key players that our company competes with. 3i Group Plc is one of our main competitors, with a strong presence in the market.

Aberdeen Asset Management PLC and AMVESCAP PLC are also notable competitors, with a long history of providing investment services.

Barclays Plc is another major competitor, known for its global reach and diverse investment portfolio.

Close Brothers Plc and Singer and Friedlander Plc are smaller but still significant players in the market.

Durlacher Corporation PLC, Old Mutual plc, and Schroders plc are also major competitors that we face in the industry.

St. James's Place Capital and UBS Warburg round out the list of our principal competitors, each with their own unique strengths and weaknesses.

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