Capel and Montagu merged

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The Independent Online
James Capel and Samuel Montagu, two of the best-known names in UK financial markets, are to be merged into a new entity, HSBC Investment Banking. Announcing the biggest shake-up of its investment banking operations since it bought the stockbroking firm James Capel in 1984, HSBC said the move would eliminate confusion and highlight the powerful parent.

HSBC said it would drop the James Capel and Samuel Montagu names for Continental European business, opting instead for HSBC Investment Banking. Capel and Montagu will be preserved for business within the UK but will be prefixed with HSBC. Keith Harris, the former head of Montagu, will become the chief executive of HSBC Investment Bank.