It may be a sign of the times, in economic terms, or perhaps simply the result of US banks having moved first to clear their balance sheets, but another of the City's oldest institutions - Hoare Govett - looks set to fall into US hands.
US investment bank Jefferies is close to buying Royal Bank of Scotland's corporate broking arm Hoare Govett, a person familiar with the matter said on Wednesday, according to a report in Bloomberg.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Review: Trisara, Phuket – a feast for the senses in ThailandTravel Stay at Trisara resort on Phuket island in Thailand for the top-notch food and spa
-
Expecting an inheritance? Don’t – only a fifth of Boomers plan to part with their cashHigher priorities are travel and spending time with loved ones, with even those on the highest household incomes shunning inheritances
