Cazenove executive quits

JPMorgan Cazenove has been rocked by the shock departure of its head of UK equity research. David Knox had been with the bank for more than 15 years and served on the executive board. He also served as deputy head of European equity research. Sources close to the matter say the departure was amicable. There are fears that other staff may also leave as deferred stock options granted are on the verge of paying out.