Diageo the UK drinks group has axed Merrill Lynch and Cazenove as corporate brokers. It is the second FTSE100 client Merrill has lost since the departure of a corporate broking team to Morgan Stanley a year ago and is Cazenove's second top FTSE loss in a month.

Diageo has replaced them with Credit Suisse First Boston and Goldman Sachs.

David Rothnie

Morgan Stanley

Goldman Sachs

Diageo

JP Morgan

Deutsche Bank

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Diageo drops Cazenove and Merrill Lynch

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