NPR logo

JP Morgan To Buy British Investment Firm

  • Download
  • <iframe src="https://www.npr.org/player/embed/120562862/120562833" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
JP Morgan To Buy British Investment Firm

Business

JP Morgan To Buy British Investment Firm

JP Morgan To Buy British Investment Firm

  • Download
  • <iframe src="https://www.npr.org/player/embed/120562862/120562833" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

JP Morgan Chase Co. is taking full control of Cazenove Group. JP Morgan began a joint venture with the 190-year-old British brokerage in 2005. JP Morgan Cazenove will continue to operate under that name and become a wholly owned part of the U.S. bank's British investment bank arm.

STEVE INSKEEP, host:

NPR's business news starts with American companies moving in on the British.

(Soundbite of music)

INSKEEP: We have two deals to tell you about this morning, one of them real, and one possible, and both involving American corporations buying historic British firms.

First, JP Morgan Chase, one of the biggest banks in this country, is buying a 190 year-old British brokerage that is believed to count the queen among its clients.

JP Morgan already owns half of the firm Cazenove, but today, JP Morgan said it's paying $1.7 billion for the rest of this brokerage known for its secrecy and discretion. That's how Britain's Guardian newspaper describes the firm.

Copyright © 2009 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.